Insurance Regulatory and Development Authority of India vide its circular bearing reference no. IRDAI/GA&HR/GDL/MISC/88/04/2023 dated April 24, 2023, has issued “IRDAI Information and Cyber Security Guidelines, 2023”. The original circular on this subject was issued by IRDAI on April 07, 2017, which was applicable to Insurers and the applicability of which was later on extended to Intermediaries through a notification of IRDAI dated September 02,2022.
In consideration of the wide spread adoption of digital technologies and concrete security risks, IRDAI has revised the cyber security guidelines and has issued the Cyber Security Guidelines,2023.
Applicability: The guideline is applicable to
- All Insurers
- Foreign Reinsurer Branches in India
- Insurance intermediaries and brokers
- Corporate Agents
- Web Aggregators
- Third Party Administrators (TPA)
- Insurance Marketing Firms (IMF)
- Insurance Repositories (IR)
- Insurance Self Network Platform (ISNP)
- Corporate surveyors
- Motor Insurance Service Providers (MISP)
- Common Service Centers (CSC), and
- Insurance Information Bureau (IIB)
The entities who have completed their security audit for the financial year 2022-2023 shall be required to ensure compliance to this guidelines from financial year 2023-2024. The present circular coming into effect, the following previous circulars of IRDAI stand suspended and overridden.
IRDAI/IT/GDL/MISC/082/04/2017 dated April 07 ,2017.
IRDA/IT/CIR/MISC/301/12/2020 dated December 29,2020.
IRDA/GA&HR/GDL/MISC/184/09/2022 dated September 02,2022.
IRDA/GA&HR/GDL/MISC/211/10/2022 dated October 11,2022.
Source category: IRDAI
Attachments
- /2023/190_Cover_Letter-_IRDAI_Information_and_Cyber_Security_Guidelines,_2023.pdf
- /2023/190_IRDAI_CS_Guidelines_2023.pdf
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