Insurers compelled to invest in cyber security
Indian authorities are intent on protecting electronic and computer data of the insured by rendering their insurance compulsory. Insurers will be liable to fines that may amount up to 50 million INR (737 000 USD) in the event of failure to get such data insured.
Other recommendations include safeguarding personal or commercial data contained in mobile computerized systems. Moreover, the so-called “cloud” safeguard patterns shall be implemented in India.
Meanwhile, each insurer is incited to set up an information security committee and to devise a response plan to cyber-attack-related crises.
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