In the first part of this two part series we discussed about the regulatory frameworks governing insurance companies and insurance intermediaries. In this part we will look at the guidelines applicable to both insurance companies and insurance intermediaries which includes cyber security and ecommerce guidelines.
Guidelines Applicable to Both Insurance Companies as well as Insurance Intermediaries
In addition to the previously-mentioned regulations, the IRDAI has also issued certain guidelines pertaining to data security and protection that are applicable to both insurance companies as well as insurance intermediaries. These are the Guidelines on Information and Cyber Security for Insurers[i] (Cyber Security Guidelines) and the Guidelines on Insurance E-Commerce[ii] (E-commerce Guidelines) and have been discussed below.