The Insurance Regulatory and Development Authority of India (IRDAI) has drafted a comprehensive framework for information and cyber security, which is likely to be finalised soon. According to the proposed guidelines, insurers will have to focus on stringent data security, among a host of other issues.
“Cyber security in the financial sector has gained importance, more so with the advent of technological innovations. In this connection, IRDAI has planned to come out with a comprehensive information and cyber security framework,’’ AR Nithiyanantham, Chief General Manager (IT), IRDAI, said in a circular to insurers.
The proposed framework will cover all layers of security such as data, applications, operating systems and network layers, besides legal aspects pertaining to cyber crimes, the official said.