Insurance Europe welcomes the Data Act proposal and participates in a statement on PLD revision

24 May 2023 —
Insurance Europe's recently published paper, that examines the impact of the different positions taken on the Data Act proposal by the European co-legislators in the trialogue discussions, sets out the insurance industry's positions on amendments proposed in relation to compensation, data use, trade secrets and data-sharing between businesses and governments.

Insurance Europe welcomes the Data Act proposal, as it sets out key principles on how to access and share data collected from connected devices, but robust sector-specific legislation on access to in-vehicle data is still needed to provide the confidence and incentive independent service providers require to invest in new data-driven services.

Insurance Europe also participated in a recent release of a statement to warn against the potentially adverse consequences of rushing institutional negotiations on the proposed revision of the EU Product Liability Directive (PLD).

The document highlights that excessively rapid negotiations will result in sub-optimal legislation that will not only impose a heavy burden on judicial systems but will also disincentivize manufacturers from innovating.

More details can be found here.