Insurance regulator to draft data security standards

The Insurance Regulatory and Development Authority of India plans to set out data security standards for the nation’s insurance industry, Asia Insurance Review reported citing Times of India. The authority will form working groups with insurers’ chief technology officers charged with coming up with recommendations for a broad cyber security framework by March 2017. They focus on mitigating internal and external threats to insurers; suggest the scope for enhancement of measures against cyber fraud; and propose measures to improve business continuity and disaster recovery.

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