Oilfield Offshore Underwriting Ltd.

Oilfield Offshore Underwriting Limited and DA Strategy Global GmbH UK Branch trading as Oilfield Offshore (jointly ‘Oilfield Offshore’)

Oilfield Offshore is committed to maintaining the highest standards when it comes to the privacy of its clients and business partners.

On 25 May 2018, the EU's General Data Protection Regulations (GDPR) came into effect. The new Regulations imposed duties and obligations on all businesses with offices, employees, clients and/or business providers in the EU.

In order to incorporate these changes, Oilfield Offshore has prepared a Privacy Notice. The notice sets out how we protect personal data collected by us when we provide insurance products and services to you and how you can gain access to the data we hold.

If you have any questions please do not hesitate to contact Arti Varsani by email or telephone, contact details are included in the Privacy Notice below.

If you require more information about GDPR, please visit https://ico.org.uk/for-organisations/

Privacy Notice

We will treat your information with respect. If you do not agree with Oilfield Offshore processing your information in accordance with this Notice, please contact: Arti Varsani:

avarsani@oilco.net
+44 20 7220 3064
8th Floor, 40 Lime Street, London EC3M 7AW

Overview

Oilfield Offshore does not have any consumer clients from whom it is necessary to collect personal data, neither does it advertise its products nor hold data of any kind for marketing purposes.

However, in the course of underwriting insurance risks, Oilfield Offshore may collect a limited amount of personal data, for example the names, addresses and dates of birth of the directors of the company being insured, but only for the purpose of fulfilling our obligations to you in connection with the placing of insurance risks.

Where such information is collected this will be treated with care and respect and shared only with other insurance professionals in the ordinary course of transacting contracts of insurance, for example during the claims process.

How we collect data

From the information you provide by way of a proposal form
From the information provided to us by your insurance broker or intermediary
When information is communicated to us by telephone, email or other forms of electronic communication
From your agents, advisers and intermediaries
From publicly available information, i.e. via the internet, hard copy publications, articles, financial statements, etc.

Personal Data collected

The names, addresses, nationality and dates of birth of directors and/or shareholders of the companies/entities we insure or are proposing to insure
Information on key individuals within the company: employment history, qualifications and other background detail
Information on the income, expenditure, assets and liabilities of the companies/entities being insured (but not of the individuals associated with the company)
Information collected during the due diligence process in order to meet Know Your Client requirements and to assess whether there is any financial crime or money laundering risk

Why we use this data

It is necessary for the placing and transacting of a contract of insurance which you are a party to
To prepare an insurance quotation and policy documentation once a quotation is accepted
For any other purpose for which you provide us with personal data
To enable third parties (underwriters, loss adjusters, Lloyd’s brokers) to assist us in the placing of contracts of insurance and the settlement of claims thereunder
For the administration and management of our business
To meet our legal and regulatory obligations including those concerning anti-money laundering and international trade and financial sanctions

Who we share data with

Professional advisers, including solicitors and other insurance specialists, to enable them to provide advice and assist us in the transacting of insurance contracts
Auditors to enable them to complete statutory audits and associated work
Lloyd’s and industry regulators, including the Financial Conduct Authority, to evidence our compliance with Byelaws and regulatory rules
Law enforcement agencies but only where absolutely necessary

Data Retention

Any personal data collected will be retained only for as long as we have a lawful reason to do so. For example:

To fulfil our legal and regulatory obligations, i.e. in respect of anti-money laundering legislation, international sanctions and regulations covering the retention of data in respect of insurance transactions
If we are required to retain information for the purposes of court proceedings or other legal reasons

Data Security

We follow industry standard security processes to ensure your data is kept safely and securely and to prevent unauthorized access, use or loss of your data.

The Legal Basis for processing your Personal Data

To perform a contract, such as providing products or services to you
To comply with legal and regulatory obligations
For legitimate business purposes
In certain cases, with your consent
We may process your Personal Data for more than one lawful basis depending on the specific purpose for which we are using it. We will only use your Personal Data when the law allows us to

GDPR - Your Rights

Access to the personal data we hold about you and the receipt from us of copies thereof in an appropriate format
To request that we correct the personal data we hold if it is wrong
To request that we stop processing your personal data if causes you damage or distress
To request that we restrict our data processing activities
To request that we delete your personal data