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  • Insurance Insurance intermediaries to set up cyber security system: IRDAI

    Insurance intermediaries to set up cyber security system: IRDAI

    Individual agents have been exempted from complying to the new norms on cyber securities.
    Team Cafemutual May 1, 2023

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    IRDAI has issued a guideline for insurance intermediaries like brokers, insurance marketing firms, corporate agents, web aggregators and insurance self-networking platform to set up their cyber security system.

    Under these norms, intermediaries will have to appoint chief information security offer (CISO), formulate cyber crisis management plan, complete cyber security assurance audit among other things.

    However, the insurance regulator has exempted agents from these norms.

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