On May 2, 2019, the FSC issued an interpretation declaring that “foreign-currency-denominated insurance products sold by an insurer in accordance with the Insurance Act” qualify as “financial products or services for which the competent authority has granted approval that receipts and payments may be processed by an agent” as referred to in Article 4, Paragraph 1, Subparagraph 2 of the “Act Governing Electronic Payment Institutions.” To coordinate with the aforementioned interpretation, the FSC amended the aforementioned Directions on December 26, 2019 to make it more convenient for policyholders to pay premiums, and to facilitate business development for insurers and electronic payment institutions. Also, to adapt to the trend toward adoption by insurers of cloud-based services, and in consideration of the importance of data security, the FSC has issued rules governing the use of cloud-based services in connection with the outsourcing by insurers of business operations in order to reduce the risk of service interruption due to their outsourcing by insurers. These rules are designed to facilitate the appropriate introduction of cloud-based services and enable financial institutions to handle operations more efficiently.