The EU-U.S. Privacy Shield (the “Privacy Shield”) has been promulgated through a joint effort between the United States (the “U.S.”) and the European Union (the “EU”) in order to facilitate the transfer of personal data from the EU to U.S. companies. The Privacy Shield officially went live on August 1, 2016, allowing for U.S. entities to self-certify that they are in compliance with the key principles of the Privacy Shield. Upon certification, a U.S. entity may receive personal data from the EU without utilizing other traditional safeguards. The Privacy Shield arose not solely out of political activism but rather legal necessity; its predecessor, the U.S.-EU Safe Harbor program was struck down by the European Court of Justice in 2015.
Visit our Insurance & Reinsurance Blog for the latest news and developments.Visit the blog
Sign up for our newsletter and get the latest to your inbox.