Page 52 - Insurance Times Octoberr 2022

Executive Director / Whole-Time Director on the (enclosed) issued by Home Secretary, GOI and commu-
Board of the Insurer/Agent/Intermediary/Insur- nication from Department of financial services advising
ance intermediary, shall not be appointed as nomi- IRDAI to issue instructions to all entities coming under
nee/common director. its administrative control for celebrating the "Cyber
Jaagrookta (Awareness) Diwas (CJD)" on the first
c. The common director may be appointed as Chair-
Wednesday of every month, and also to prepare an
person on the Board of the insurance company /
“Annual Action Plan”.
agent / intermediary / insurance intermediary sub-
ject to necessary safeguards, to be put in place at 2. In this connection, you are requested to prepare an “An-
all the times, to protect the interest of policyhold- nual Action Plan” for celebrating “Cyber Jaagrookta
ers and to avoid the conflict of interest as may arise Diwas” on every first Wednesday of the month during
due to such appointment. the period 11am to 12 noon (tentatively) and share the
action plan with us at infosec@irdai.gov.in by 30th Sep-
4. The Insurers shall file a certificate on an annual basis,
tember, 2022.
duly certified by the CEO, confirming compliance with
the provisions of this circular on financial year basis. The
(P.S. Jagannatham)
compliance shall be filed with Authority not later than
Chief General Manager (GA & HR)
30th April of the succeeding financial year.
Rationalization of Health Insurance Busi-
5. This Circular will come into force from the date of issu-
ance of the same and will supersede the Circular IRDA/ ness Returns
F&A/CIR/MISC/141/08/2018 dated 30.08.2018.
13.09.2022

(Rakesh Joshi) As part of promoting ease of doing business for insurance
Member (F&I) companies, Insurance Regulatory and Development Author-
ity of India (IRDAI) has been constantly striving to reduce
Guidelines on Information and Cyber Secu-
the compliance burden of all the regulated entities. Towards
rity this endeavour, the health insurance returns being filed by
the insurance companies have been significantly reduced.
IRDAI/GA&HR/GDL/MISC/184/09/2022
Now, the General and Health Insurers will have to file 8
Date: 2nd Sep, 2022
returns and Life Insurers will be filing 3 returns in place of
17 returns being filed currently. This step will further help
1. Reference is drawn to Point no. 3 on “Applicability” of
insurers in focusing on their business rather than a plethora
Guidelines on Information and Cyber Security for Insur-
of compliances and in turn help in increasing the insurance
ers dated 07.04.2017 read as “this guidelines document
penetration in country.
is applicable to all insurers regulated by Insurance Regu-
These revised reporting norms will be applicable with im-
latory and Development Authority of India (IRDAI).”
mediate effect.
2. It has been decided by the Authority to extend the ap-
plicability of said guidelines to all Insurance Intermedi- Mr. Thomas Devasia, Member (Non - Life)
aries with immediate effect.
Date:21-09-2022
Member (F&I)
Mr. Thomas Devasia assumed charge as Member (Non-Life)
Applicability of Service Tax / GST on ser- in the Insurance Regulatory & Development Authority of
India (IRDAI) on 19 September 2022.
vices provided by IRDAI to Insurance inter-
He has been with the general insurance industry for over
mediaries
35 years in roles spanning management of direct and rein-
IRDAI/GA&HR/CIR/MISC/189/09/2022 surance underwriting, loss adjustment and broking across
the Indian and Middle East insurance markets.
Dated : 06th Sep, 2022
Mr. Thomas holds Masters in Statistics and started his ca-
1. Reference is drawn to para 12 of Annexure – I of reer with GIC Re after graduating from New India Assur-
D.O.No. 22003/15/2019-14C dated 30th March 2022 ance Training College in 1986.

52 The Insurance Times, October 2022