Irdai Mandates Forensic Auditors for Swift Cybersecurity Response

The Insurance Regulatory and Development Authority of India (Irdai) mandates insurers to empanel forensic auditors in advance to swiftly handle and analyze cyber incidents, following rising data breaches. This move seeks to ensure organized responses to protect information assets and maintain business continuity in the digital age.

The Insurance Regulatory and Development Authority of India (Irdai) has taken a decisive step in bolstering cybersecurity by mandating insurers to pre-empanel forensic auditors. This directive aims to facilitate prompt forensic analyses and root cause determinations of cyber incidents.

The decision comes amid increasing data breaches, underscoring the significant threats posed to organizational information assets, including sensitive customer data, in our digital era. Irdai had previously introduced Information and Cyber Security Guidelines to improve cyber incident preparedness in 2023.

To ensure immediate action in the event of a cyber crisis, Irdai requires all regulated entities to have established procedures for quickly onboarding forensic auditors. Additionally, all entities must report compliance to these provisions during board meetings, with minutes submitted to Irdai for tracking and information purposes.

(With inputs from agencies.)