The IRDAI has established a task force to examine the implications on the insurance sector of the new Digital Personal Data Protection Act, 2023 (DPDP Act).
This follows after the Ministry of Law and Justice made a Gazette notification of the DPDP Act. The new legislation aims to provide a comprehensive framework for the processing of digital personal data in a manner that recognises both the right of individuals to protect their personal data and the need to process such personal data for lawful purposes and matters connected therewith or incidental thereto.
The 11 members of the task force comprise senior IRDAI officials, the CEOs or chairmen of several life and general insurance companies, and GIC Re.
The task force will submit its report within one month of issuance of an IRDAI order dated 24 November regarding the task force.
