Insurers Back EU Digital ID Plans, Warn Of Regulatory Burden
Law360, London (September 9, 2020, 12:15 PM BST) -- European insurers gave their support on Wednesday for secure, easy-to-use digital identities, but cautioned that they should not be introduced across the European Union with cumbersome regulation.
Strengthening digital identities such as in cross-border transactions is a welcome move, and trends such as the increasing dependency on online business should be taken into account, Insurance Europe, an industry lobby group, said.
The body said that it broadly welcomed the extension of the legal framework to the private sector. But it warned, in its response to a consultation by the European Commission on a digital identification scheme for the bloc, that this should not...
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