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<!DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd"> <html xmlns="http://www.w3.org/1999/xhtml"> <head> </head> <body> <div style="font-family:Verdana, Geneva, sans-serif; font-size:12px; text-align:justify"> <table width="800" border="0" style="border:1px solid #ccc;padding:5px;" align="center" cellpadding="6" cellspacing="0"> <tr> <td align="left" valign="top"> <br /> Insurance Regulatory and Development Authority <br /><br /> Formation of working groups to come out with comprehensive framework for cyber security in insurance sector<br /><br /> MANU/IRDA/0041/2016 - (31 Oct 2016)<br /><br /> </td> </tr> <tr> <td align="left" valign="top"></td> </tr> <tr> <td align="left" valign="top" style="background-color:#FDEDCE"><strong>IRDAI is planning to come out with a comprehensive cyber security framework for Insurance sector of India in the wake of recent cyber-attacks and also implement appropriate mechanism to mitigate cyber risks. In this connection, it has been decided to form two separate working groups for life and non-life sector (including health) comprising of ClOs of insurers to discuss and decide on the issues related cyber security. <br><br> The broad terms of reference for the working groups are as follows: <br><br> a) Suggest recommendations with respect to Cyber security in order to comprehensively provide for a broad framework to mitigate present internal and external threats to insurers. <br><br> b) Provide recommendations for effective and comprehensive Cyber Security Audit related processes to provide assurance on the level of IT risks. <br><br> c) Suggest scope for enhancement of measures against Cyber fraud through preventive and detective mechanisms. <br><br> d) Identify measures to improve business continuity and disaster recovery. <br><br> e) Assess the impact of legal risks arising out of cyber laws, the need for any specific legislation relating to data protection and privacy. <br><br> f) Any other matter of importance / relevance. <br><br> g) The working groups may form a sub-group and shall submit its report by the end of Jan'2016. <br><br> h) Based on the report, an exposure draft will be released for comments of stakeholders. <br><br> i) A Comprehensive guideline on cybersecurity shall be issued by March'2017.</strong></td> </tr> <tr> <td align="left" valign="top" ><strong></strong></td> </tr> <tr> <td align="left" valign="top" ><strong>Tags : Formation, Working groups, Cyber security</strong></td> </tr> <tr> <td align="left" valign="top"> </td> </tr> <tr> <!--<td><strong>Source : <a target="_new" href="http://www.manupatrafast.com/">newsroom.manupatra.com</a></strong></td>--> <td align="left" valign="top"><strong>Source : newsroom.manupatra.com</strong></td> </tr> <tr> <td align="left" valign="top"> </td> </tr> <tr> <td align="left" valign="top">Regards</td> </tr> <tr> <td align="left" valign="top">Team Manupatra</td> </tr> <tr> <td align="left" valign="top"> </td> </tr> </table> </div> </body> </html>