News From Press No plans to bring standard products for cyber liability insurance policy as of now: Member Irdai

No plans to bring standard products for cyber liability insurance policy as of now: Member Irdai

A working group was formed by the regulator for examination of bringing standardisation of cyber liability insurance policy. Irdai issued a circular earlier this month for product structure for cyber insurance.

Source: ET Sep 24, 2021

Insurance Regulatory and Development Authority of India (Irdai) has no plans to bring standard products for cyber liability insurance policy as of now, a senior Irdai member said on Thursday. However, the member said that guidances are given to the insurers to evaluate the risks associated with these kinds of products.

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