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Insurance lobby backs plan to address data localization requirements through trade policy change

( May 31, 2016, 21:32 GMT | Official Statement) -- MLex Summary: The American Council of Life Insurers is praising an announcement by the US Treasury Department, the Office of the US Trade Representative and other agencies that they will alter policies on data localization in other countries. The policy shift comes in reaction to industry concerns over how to comply with data localization barriers abroad. The lobbying organization called the changes “a necessary and positive improvement for a stronger U.S. trade policy agenda.” Many countries currently require data and IT infrastruture localization, which causes problems for US companies wanting to use US-based technology infrastruture or to comply with US regulations, which often require the relocalization of data back to the US....

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