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National Insurance Commission Cyber Security Directives, 2024 πŸ‡¬πŸ‡­

Ghana

Directive nic-csd

National Insurance Commission Cyber Security Directives, 2024

  • Commenced on 1 January 2024
  • [This is the version of this document from 1 January 2024.]

1.0 Preliminary

This directive has been issued by the National Insurance Commission (NIC) in exercise of the powers granted to it under Sections 198 and 199 of the Insurance Act 2021, (Act 1061).

2. Applicability

Unless stated otherwise, this directive applies to only insurers and reinsurers. However, some minimum requirements under this directive, depending on the nature, size and complexities of their operations shall be applied to the following group of regulated entities.
a)Brokers and Reinsurance Brokers
b)Technical Service Providers,
c)Innovative Insurers/Innovative Intermediaries

3.0 Outcomes and Objective

This directive mandates that regulated entities implement robust cybersecurity systems to safeguard against cyber threats and ensure a resilient insurance ecosystem. Recognizing the diverse risk profiles of regulated entit…

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