Formation of Committee to Review IRDAI’S Information & Security Guidelines

Last updated: 27 February 2021

Save Share

Quick Summary

In response to the global increase in cyber-attacks, particularly within the financial sector, the Insurance Regulatory and Development Authority of India (IRDAI) has established a committee. This committee will review and update the existing Information & Security Guidelines, originally issued in 2017. The review aims to address emerging cybersecurity challenges, including those related to fintech, remote work, cloud sourcing, and critical information infrastructure, and will consider extending the guidelines to other regulated entities.

Insurance Regulatory and Development Authority of India Ref. No:IRDA/IT/ORD/MISC/034/02/2021 Date:24-02-2021 ORDER FORMATION OF COMMITTEE TO REVIEW IRDAIS INFORMATION SECURITY GUIDELINES The economic situation owing toCOVID-19pandemic has seen an exponential increase in cyber-attacks

Daily Limit Reached

You have reached your daily limit of 2 Free Notice & Circular

Subscribe to CCI PRO for unlimited access

Why Upgrade to CCI PRO?

No Ads
WhatsApp Broadcasts
Daily E-Newsletter
Unlimited Notice & Circular Access

BEST VALUE

2 YEAR PLAN

3,499

(Inclusive of GST)

1 YEAR PLAN

1,999

(Inclusive of GST)

View all CCI PRO benfits

Already a PRO member? Login here for an ad-free experience.

FAQ :

The exponential increase in cyber-attacks globally, especially affecting the financial sector due to the COVID-19 pandemic, has necessitated a review to ensure the protection of financial systems.

The committee will examine extending the guidelines to other IRDAI-regulated entities, their applicability to third parties accessing insurer IT systems, updating guidelines for fintech, mobile apps, remote work, and cloud sourcing, addressing critical information infrastructure, and specific applicability for foreign reinsurance branches.

The committee is chaired by Prof. Janakiram, Director of IDRBT.

The committee is tasked with submitting its report within two months of its formation.

The original guidelines mandated an Information Security Committee (ISC), a Board-approved Information & Cyber Security Policy, the appointment of a Chief Information Security Officer (CISO), and a Cyber Crisis Management Plan (CCMP).

Guest

Notification No : Ref. No:IRDA/IT/ORD/MISC/034/02/2021
Published in Miscellaneous
Source : https://www.irdai.gov.in/ADMINCMS/cms/frmOrders_Layout.aspx?page=PageNo4380

Share Report Abuse

Comments