Over 31 million prospects’ delicate private data was allegedly offered to hackers, seen as some of the extreme breaches within the insurance coverage trade.
“Irdai sees this knowledge leak as a really severe concern,” an individual mentioned, including that different insurers would additionally must overview their knowledge safety insurance policies. “As extra delicate knowledge flows into insurance coverage companies, there’s a want for stronger cybersecurity. The regulator desires to make sure that each insurer applies the absolute best safety measures, together with common audits and updates to safeguard knowledge.”
Irdai will anticipate an audit report back to establish the gaps and concern directions. The regulator has requested Star Well being to extensively audit the corporate’s cybersecurity framework. The audit, led by an exterior agency, is predicted to establish management gaps and advocate compliance measures to stop future knowledge thefts.
The breach, linked to the corporate’s chief data safety officer (CISO) Amarjeet Khanuja, surfaced after a hacker going by the alias “xenZen” claimed Khanuja had offered the info and later tried to renegotiate for extra money in alternate for continued backdoor entry.