The Insurance Authority has issued its Guideline on
Cybersecurity (GL20) for authorised insurers, which will take
effect on 1 January 2020.
GL20 will apply to all authorised insurers (except for captive
insurers and marine mutual insurers) in relation to the insurance
business they carry on in or from Hong Kong. It sets out the
minimum cybersecurity standards relevant insurers will need to
establish and maintain.
Strong cyber resilience has become a key area of concern for the
Insurance Authority as insurers face increased exposure to cyber
risk and cyber-attacks become increasingly sophisticated, with
potential consequences for insurers and their policyholders
becoming more severe.
