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Amendments to the Directions Governing E-Commerce Conducted by Insurance Enterprises


Peng-Ying Chen/Trisha Chang

 To strengthen personal data protection effectiveness of insurance enterprisers and to adapt to the COVID-19 vaccination programme and the Financial Supervisory Commission (the "FSC")'s plan to designate the establishment of a protection-oriented insurance products platform to allow more types of insurance policies to be sold online by insurance enterprises, the FSC amended Point 5, Point 6, Point 7 of and Annex 1 to the Directions Governing E-Commerce Conducted by Insurance Enterprises (the "Directions").

3 Points of the Directions were amended in this amendment. Key points of the amendments are as follows:

1.     According to existing regulations, insurance enterprises conducting e-commerce business should obtain ISO 27001 certification. Considering that insurance enterprises conducting online insurance business and online insurance services keep a lot of personal data, this amendment stipulates new requirements for obtaining certification of Personal Information Management System (PIMS) to strengthen effectiveness of personal data protection. In addition, to allow insurance enterprises conducting e-commerce business to adjust to the new requirements within an appropriate timeframe, requirements for PIMS certification will take effect one year from the date of this amendment. (Amendment to Point 5 of the Directions)

2.     To adapt to the COVID-19 vaccination programme, to encourage insurance enterprises to develop various insurance products, and to prevent related risks arising from vaccination so as to increase acceptance of vaccination against notifiable infectious diseases, while taking into consideration the existing vaccination insurance products currently provided by insurance enterprises, this amendment stipulates that the general vaccination insurance products are property insurance products which can be sold and purchased online in order to provide consumers with more diverse and instant channels to apply for insurance. (Amendment to Point 6 of the Directions)

3.     To provide a gateway for the public to purchase protection-oriented insurance products, to integrate products of different insurance enterprises, and to offer simple and affordable insurance products featuring basic protection, the FSC plans to develop and establish a platform for protection-oriented insurance products. In connection with the establishment of the platform and to encourage consumers to purchase protection-oriented insurance products through the platform, the platform allows consumers to access specific insurance enterprises' webpages selling term life insurance policies, small amount whole life insurance policies and catastrophic illness health insurance policies via the link provided on the platform. However, currently, catastrophic illness health insurance policy is not one of the life insurance products which can be sold online by insurance enterprises. Therefore, this amendment stipulates that insurance enterprises can sell catastrophic illness health insurance policies online on the platform designated by the competent authority. (Amendment to Point 7 of the Directions)

This amendment will help improve the personal data protection performance of insurance enterprises conducting online insurance business and providing online insurance services, as well as enable consumers to purchase online insurance products suitable for their own protection needs.

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