Draft Insurance Sector IT Supervision Guidelines Released
On October 9, the China Insurance and Regulatory Commission (CIRC) issued a call for comment on draft measures regulating information technology in the insurance sector, with a deadline for comments of October 31.
The measures, which are entitled the Supervisory Rules for Adoption of Information Technology by Insurance Institutions, include requirements for deployment of "secure and controllable" technology, use of domestic encryption algorithms, and compliance with the multi-level protection scheme (MLPS).
Article 53 of the measures, for example, calls on insurance agencies to "...give priority to buying secure and controllable hardware and software products, and steadily promote the use of secure and controllable products."
