Kensington Management Group, Ltd. (“Kensington”) and each insurance company for whom Kensington has been appointed as the insurance manager (each a “Captive”) is incorporated in the Cayman Islands. Kensington has responsibility for the day to day operations of each Captive. In this privacy notice, “we”, “us” and “our” refers to Kensington and each applicable Captive.
About this privacy notice
This Privacy Notice applies to each person whose personal data has been provided to Kensington and/or a Captive. Kensington and each applicable Captive is a data controller in respect of your personal data for the purposes of the Cayman Islands Data Protection Law, 2017 (the “Data Protection Law”). Kensington and each Captive have agreed that Kensington will take primary responsibility for complying with our respective obligations under the Data Protection Law. Kensington is therefore responsible for ensuring that we use your personal data in compliance with the Data Protection Law.
Processing of your Personal Data
This privacy notice applies to you if (i) you are an applicant for, or the holder of, shares in a Captive, (ii) your personal data has been provided to us in connection with an application for shares in a Captive by another person (such as where you are a director, partner, trustee, employee, agent or direct or indirect owner of an applicant), (iii) you are a director or officer of a Captive or (iv) we otherwise use your personal data. This privacy notice sets out the basis on which personal data about you will be processed by us. Please take the time to read and understand this privacy notice.
Personal data that we might use
We might process the following personal data about you:
- Information provided to us by you or (if different) the applicant: This might include your name and address (including proofs of name and address), contact details, date of birth, gender, nationality, social security number, photograph, signature, occupational history, job title, income, assets, other financial information, bank details, investment history, tax residency and tax identification information. Such information might be provided in an application form or in other documents (as part of an application process or at other times), face-to-face, by telephone, by email or otherwise.
- Information that we collect or generate: This might include emails (and related data) and information relating to your (or an applicant’s) ownership of shares in a Captive or participation in the insurance program carried on by a Captive and information relating to your position as a director or officer of a Captive.
- Information that we obtain from other sources: This might include information obtained for the purpose of our know-your-client procedures (which include anti-money laundering procedures, counter-terrorist financing procedures, politically-exposed-person checks, sanctions checks, among other things), information from public websites and other public sources and information received from the applicant’s brokers, advisers or from other intermediaries.
Uses of your personal data
Your personal data may be stored and processed by us for the following purposes:
- Assessing and processing applications for shares in, and participation in the insurance program carried on by, a Captive, including performing know-your-client procedures, assessing the fitness and propriety of shareholders, directors and officers of a Captive (being a regulated entity in the Cayman Islands), issuing and redeeming shares, receiving payments from and making payments to the applicant with respect to shares in, or the insurance program carried on by, a Captive and overseeing these processes.
- General business administration, including communicating with shareholders and directors, communicating with service providers and counterparties, accountancy, tax and audit services, risk monitoring, the administration of IT systems and monitoring and improving products.
- Fulfilling our contractual obligations with third parties, such as banks, auditors, accountants and legal advisors.
- Compliance with legal and regulatory obligations and industry standards, including know-your-client procedures, fitness and propriety assessments, obtaining relevant regulatory approvals, the automatic exchange of tax information and maintaining registers of members, directors and officers.
- If you are the applicant, you may enter into, or have entered into, a subscription agreement and shareholders agreement with a Captive and some processing will be necessary for the performance of those agreements, or will be done at your request prior to entering into that agreement.
- Processing may be necessary to discharge a relevant legal or regulatory obligation, including where you are, or are proposing to become, a director of officer of a Captive.
- The processing will, in all cases, be necessary for the legitimate business interests of Kensington, a Captive or another person, such as:
- carrying out the ordinary or reasonable business activities of Kensington or a Captive or other persons, or other activities previously disclosed to a Captive’s shareholders or referred to in this privacy notice;
- ensuring compliance with all legal and regulatory obligations and industry standards, and preventing fraud; and
- ensuring the security of information systems.
- Where relevant, you have given your consent.
- In respect of any processing of sensitive personal data, such as any personal data relating to the political opinions of a politically exposed person, the processing will be subject to additional safeguards.
We are entitled to process your personal data in these ways for the following reasons:
Disclosure of your personal data to third parties
We may from time to time, in accordance with the purposes described above, disclose your personal data to other parties, including (a) Captive Resources, LLC (and its affiliates) where such company has been appointed as the insurance consultant to a Captive, (b) professional advisers such as law firms and accountancy/tax firms, (c) other service providers of Kensington or a Captive, including technology service providers and providers of electronic identity verification services, (d) counterparties and (e) courts and regulatory, tax and governmental authorities including, without limitation, the Cayman Islands Monetary Authority. Some of these persons will process your personal data in accordance with our instructions and others will themselves be responsible for their use of your personal data. These persons may be permitted to further disclose the personal data to other parties.
Transfers of your personal data outside the Cayman Islands
Your personal data may be transferred to and stored by persons outside the Cayman Islands, or both, and in particular may be transferred to and stored by our affiliates or service providers.
Where personal data is transferred outside the Cayman Islands, we will ensure that the transfer is subject to appropriate safeguards or is otherwise permitted under applicable law. You can obtain more details of the protection given to your personal data when it is transferred outside the Cayman Islands by contacting Kensington using the details set out under “Contacting us” below.
Necessity of personal data for an investment in a Captive
The provision of certain personal data is necessary for shares in a Captive to be issued to any applicant for the proper administration of the insurance program operated by a Captive and for compliance by us, and our respective service providers, with certain legal and regulatory obligations. Accordingly, if certain personal data is not provided when requested, an application for shares might not be accepted or shares might be compulsorily redeemed.
Retention of personal data
How long we hold your personal data for will vary. The retention period will be determined by various criteria, including the purposes for which we are using it (as it will need to be kept for as long as is necessary for any of those purposes) and legal obligations (as laws or regulations may set a minimum period for which we have to keep your personal data).
You have a number of legal rights in relation to the personal data that we hold about you. These rights include the following:
- The right to obtain information regarding the processing of your personal data and access to the personal data we hold about you.
- In some circumstances, the right to receive some personal data in a structured, commonly used and machine-readable format. Please note that this right only applies to personal data which you have provided to us.
- The right to request that we rectify your personal data if it is inaccurate or incomplete.
- The right to request that we erase your personal data in certain circumstances. Please note that there may be circumstances where you ask us to erase your personal data but we are legally entitled or required to retain it.
- The right to object to, and the right to request that we restrict, our processing of your personal data in certain circumstances. Again, there may be circumstances where you object to, or ask us to restrict, our processing of your personal data but we are legally entitled to continue processing your personal data or to refuse that request.
- The right to lodge a complaint with the data protection regulator (details of which are provided below) if you think that any of your rights have been infringed by us.
You can exercise your rights by contacting Kensington using the details set out below. You can find out more information about your rights under the Data Protection Law by contacting the Cayman Islands Ombudsman, the data regulator, or by searching its website at www.ombudsman.ky.
If you would like further information on the collection, use, disclosure, transfer or processing of your personal data or the exercise of any of your rights listed above, please address questions and requests to Kensington (Address: Kensington House, Dr Roy’s Drive, George Town, PO Box 10027, Grand Cayman, KY1-1001, Cayman Islands, Email: firstname.lastname@example.org; Tel: +1 (345) 946-2100).
We may update this privacy notice from time to time to reflect changes in the law or our privacy practice.