Cloud Regulations is a project of the insurers at SFTI that deals with the question of which regulations insurers need to regulate in order to access the cloud with their data, what should be the basis for regulation and how can data privacy and security be maintained.
Under the leadership of the insurers, who have already taken their first steps into the cloud, all insurers meet regularly to discuss the issue of regulation at a technical, legal and innovative level. A position paper is currently being finalised and will be discussed with Finma at the beginning of 2018 and submitted accordingly.
As soon as the position paper is finalised, there will be an internal coordination with the Regulations working group and, in a further step, an external coordination with the SBC, which is also working on a similar proposal for banks. Harmonisation of the two projects makes sense with regard to the success of the regulatory authority and the strengthening of the Swiss financial centre as a whole.
Related publication: We congratulate our Working Group “Cloud” – The WG just published the first Version of its position paper.
The Working Group “Cloud Regulations” is now part of the WG Regulations.