Skip links

IRDAI Notification – Cyber Insurance Product Norms

The Insurance Regulatory & Development Authority of India (IRDAI) vide circular dated September 8, 2021, has released a Guidance Document to enable product structure for Cyber Insurance.

As individuals and entities are increasingly exposed to Cyber-attacks and risks, especially during the COVID-19 pandemic, the IRDAI had earlier constituted a working group to examine the possibility of standardization of Cyber Liability Insurance policy wording, which they concluded was not desirable, at the moment, due to several factors.

However, the working group still opined that the general insurers should be guided by model policy wordings which then resulted in a Guidance Document for Cyber Insurance Policy Product. The Guidance Document also contains Model Policy Wordings for Personal Cyber Insurance and a Common Reference Framework. The Guidance Document defines ‘Cyber Insurance’ as an insurance policy designed to protect the policyholders against cybercrimes.

A few objectives of the Guidance Document is to enable insurers to evaluate new technologies posing a heightened cyber risk, facilitate insurers in developing stand-alone cyber insurance products, address evolving cyber risks, develop new products and enhance benefits for policyholders, and encourage insurers to adopt best practices.

The complete guidance document can be accessed here

September 8, 2021

Read more


As per rules of the Bar Council of India, legal practitioners are not permitted to solicit work or advertise their services. By clicking on the “I agree” button below and accessing this website, the user acknowledges that:

  • The user is seeking information relating to QL Partners of their own accord and there has been no form of solicitation, advertisement, or inducement by QL Partners or any of its members; and
  • This website does not seek to create or invite any lawyer-client relationship; and
  • The user has read and accepted this website’s Privacy Policy.

Any content on the website is for information purposes only and shall not be construed as legal advice. No warranty or promise is made that this website is correct, complete, and up to date. Without prejudice, QL Partners shall not be responsible for any reliance placed by the user on such content.