Saudi Arabia: Insurance Authority Cybersecurity Subcommittee Established

News developments

Saudi Arabia: Insurance Authority Cybersecurity Subcommittee Established

Al-Watan, 19 May 2024: The Insurance Authority has approved the establishment of a Cybersecurity Subcommittee.

This initiative aims to strengthen the cybersecurity framework within the Kingdom’s insurance sector.

The Cybersecurity Subcommittee aims to ensure the Saudi insurance sector’s commitment to implementing, supporting, and following up on comprehensive cybersecurity programmes, legislation, and strategic frameworks approved by regulatory authorities.

In its role, the subcommittee will focus on several key areas, including facilitating the integration of new cybersecurity regulations and practices into the daily operations of insurance companies, providing expert guidance, and supervising cybersecurity trends and performance in the insurance sector.

It will also follow up on the implementation of approved cybersecurity programmes and initiatives, and improve collaborative efforts among stakeholders to share best practices on cyber security.

The Chairman of the Executive Committee for Insurance Companies has stated that the creation of the Cybersecurity Subcommittee marks a significant commitment by regulators and stakeholders to safeguard the Saudi insurance sector amid digital transformation.

He has also noted that the committee includes experienced stakeholders and cybersecurity specialists, fostering a collaborative approach. for the full story, click here.

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Tanya Jain