The Insurance Regulatory and Development Authority of India (IRDAI) has imposed a Rs. 3.39 crore penalty on Star Health and Allied Insurance for serious lapses in cybersecurity compliance. The enforcement action follows the company’s failure to promptly report a data breach and to uphold key regulatory standards related to information security and risk governance. The fine highlights the regulator’s heightened focus on digital risk management in the insurance sector and signals that violations involving customer data will invite swift and stringent penalties.
