13. September 2021
Covered companies and counterparties should also check the terms of their agreement to ensure that each complies with the legal and administrative provisions as well as the provisions of the contract itself. Companies must ensure that they have taken steps to implement procedures and guidelines to comply with the necessary protective measures for PHI and to obtain the necessary amounts of insurance coverage and insurance policies in accordance with the agreement. A „counterparty“ is a natural or legal person (with the exception of a staff member of a classified entity) who performs certain functions or activities on behalf of a covered enterprise or provides certain services to it that involve the counterparty`s access to PHI. A „business partner“ also includes a subcontractor who creates, receives, maintains or transfers PHI on behalf of another counterparty.