Protecting your
deposits in Bermuda

The BDIC provides deposit insurance protection and support for Bermuda Dollar depositors, contributing to the stability of the financial sector in Bermuda, while minimising risk to the depositor

The Bermuda Deposit Insurance Corporation (the BDIC) is committed to protecting your privacy. This notice describes how we collect and use your personal data when members of the public (you) communicate with us. This includes when you view our website, communicate with us via our website and also when you communicate with us by other means such as email, telephone call, physical letter or in person. This notice also describes the rights you have and control you can exercise in relation to your personal data that we have collected.

You can download a pdf version of this privacy policy here.

This privacy notice was last updated in May 2019.

 

Purpose of this Privacy Notice

This notice aims to give you information on how the BDIC collects and processes your personal information. This includes through your use of this website, any data you may provide through this website, when you email or call the BDIC, sign up to our newsletter or otherwise communicate with the BDIC.

 

Who We Are

BDIC is a statutory corporation established by the Deposit Insurance Act 2011. The functions of BDIC include:

  • Administering the Deposit Insurance Scheme, which provides deposit insurance protection to Bermuda dollar depositors, and administering and managing the Deposit Insurance Fund.
  • Collecting premiums from the members of the Deposit Insurance Scheme.
  • Educating the public on the Deposit Insurance Scheme and its purpose and ensuring institutions adhere to the Deposit Insurance Scheme.

Our offices are at Swan Building, 26 Victoria Street, Hamilton HM12, Bermuda and our mailing address is Box 13, Swan Building, 26 Victoria Street, Hamilton HM12, Bermuda.

If you have any questions about the BDIC’s use of your personal data, please contact the BDIC’s privacy officer by email at info@bdic.bm.

 

Data Collection and Usage when you visit our Website

Personal data, or personal information, means any information about an individual from which that person can be identified. It does not include data where the identity has been removed (anonymous data). We may collect the following types of personal data about you when you use our website:

  • Identity data: this includes your first name, last name, title and gender.
  • Contact information: your telephone number (including mobile phone number where provided) as well as email and postal address.
  • Technical information: when you access this website and our technology services being IP address, browser type and version (e.g. Internet Explorer, Firefox, Safari etc.), time zone setting, browser plug-in types and versions, operating system you are using (e.g. Vista, Windows XP, MacOS, etc), device type, hardware model, MAC address, unique identifiers and mobile network information.
  • Online data: when you access this website and our technology services, information about your visit including URL clickstream to, through and from our website (including date and time), information about your network as such as information about devices, nodes, configurations, connection speeds and network application performance; pages viewed or searched for, page response times, download errors, length of visits and interaction information (such as scrolling, clicks, mouse-overs) and whether you click on particular links or open our emails.

The above data will be provided to us by you when you communicate with us or is collected by us when you visit our website.

We do not collect sensitive personal information such as details of any disabilities, race or sexual orientation and we will not ask you to provide sensitive personal information to us.

 

Your Communications with Us

The BDIC may also collect information that you choose to provide in your communications with us. Please do not send us confidential information or sensitive personal information without first informing us so we can make arrangements with you to receive the confidential information securely.

 

How we use your Personal Data

We only use your personal data when the law allows us to. Most commonly, we shall use your personal data in the following circumstances:

  • Communication: sending emails or other communications to you in response to an email or communication you have sent to the BDIC.
  • Our records: maintaining records of emails and other communications received by the BDIC.
  • Investigations: when investigating any matters which you have communicated to us, which the BDIC considers further information is required or where the BDIC considers that action should be taken.
  • Deposit Insurance Scheme: when administering the Scheme.

 

Our reasons for using your personal data

We will process your personal data for a number of reasons:

  • You have given us consent: for example, where you share details for particular purposes.
  • This is necessary to comply with legal or regulatory obligations: for example, in respect of the performance by the BDIC of its function to administer the Deposit Insurance Scheme.
  • This is necessary to deal with legal claims.
  • Processing is necessary for our legitimate interests or those of a third party:  provided this does not override any interests or rights that you have as an individual. Our legitimate interests are listed in the next section.

 

Legitimate interests

We have legitimate interests in:

  • Administering the Deposit Insurance Scheme.
  • Administering the Deposit Insurance Fund.
  • Understanding and responding to inquiries and feedback from members of the Bermuda public.
  • Understanding how members of the Bermuda public use our website.
  • Promoting the awareness of the Deposit Insurance Scheme in Bermuda and amongst the Bermuda public.
  • Preparing annual and other periodic reports in respect of the functioning of the Deposit Insurance Scheme.

 

With whom do we share your data?

We do not anticipate sharing your personal data with anyone. We may disclose your personal data to a Scheme Member when we consider it necessary to do so.

 

Personal data about others

In some cases, you may provide personal data to us about other people (such as joint account holders or other board members of a company or other business partners of a partnership). You must ensure that you have given those individuals an appropriate notice that you are providing their information to us and have obtained their consent to that disclosure.

 

Security

We will hold your information securely in line with physical, technical and administrative security measures. However, the transmission of information via the internet is not completely secure. Although we will take reasonable measures to protect your personal information, we cannot guarantee the security of the information you chose to transmit to us and any transmission is at your own risk.

 

Where will your information be held?

We do not anticipate that information will be transferred out of Bermuda. However, if, for whatever reason, your data is transferred out of Bermuda, the BDIC will, take steps to protect your information in line with locally applicable data protection requirements.

 

How long do we keep your data?

We generally keep your information as long as needed to respond to your communication and to review and investigate the matter or circumstances you have communicated to us.  The period of time that we shall retain your personal data will depend on a number of factors which may be specific to you and difficult to predict.  The BDIC has a policy to review the personal information it holds periodically, and to delete any personal information which is clearly no longer required to be retained by the BDIC.

 

Your Rights

Under Bermuda law, you have certain rights in relation to your information. The availability of these rights and the ways in which you can use them are set out below in more detail. Some of these rights will only apply in certain circumstances. If you would like to exercise, or discuss, any of these rights, please contact info@bdic.bm.

  • Access: you are entitled to ask us if we are processing your data and, if we are, you can request access to your personal data.  This enables you to receive a copy of the personal data we hold about you and certain other information about it.
  • Correction: you are entitled to request that any incomplete or inaccurate personal data we hold about you is corrected.
  • Erasure: you are entitled to ask us to delete or remove personal data in certain circumstances. There are also certain exceptions where we may refuse a request for erasure, for example, where the personal data is required for compliance with law.
  • Restriction: you are entitled to ask us to suspend the processing of certain of your personal data about you in certain circumstances, for example if our use of the date is causing or likely to cause substantial damage or substantial distress to you or another individual.
  • Consent: where we are processing personal data with consent, you can withdraw your consent.

If you want to exercise any of these rights, please contact info@bdic.bm 

 

Cookies

We do not use “cookies” or other mechanisms for tracking specific visitor habits or identifying returning visitors.

 

Links to third party websites

Our website, newsletters, email updates and other communications may, from time to time, contain links to and from other websites. The personal data that you provide through these websites is not subject to this privacy notice and the treatment of your personal data by such websites is not our responsibility.

If you follow a link to any other websites, please note that these websites have their own privacy notices which will set out how your information is collected and processed when visiting those sites.

 

Children

We do not knowingly collect information from children or other persons who are under 16 years old. If you are under 16 years old, you may not submit any personal data to us.

 

Changes to this Notice

This notice may be changed from time to time.

If we change anything important about this notice (the information we collect, how we use it or why) we will highlight those changes at the top of the notice and provide a prominent link to it for a reasonable length of time following the change.

 

How to contact us

If you would like more information about the way we manage personal data that we hold about you, please contact info@bdic.bm.