Irdai sets up 11-member taskforce to examine the impact of DPDP Act

The Insurance Regulatory and Development Authority of India (IRDAI) has proposed to constitute an 11-member taskforce under the chairmanship of Randip Singh Jagpal, Executive Director (Non-Life) at IRDAI, to examine the implications of the Digital Personal Data Protection (DPDP) Act 2023 on the sector.

The Ministry of Law and Justice, Legislative Department, via Gazette Notification dated August 11, 2023, aimed to provide for setting out a comprehensive framework for the processing of digital personal data in a manner that recognizes both the right of individuals to protect their personal data and the need to process such data for lawful purposes and for matters connected therewith or incidental thereto.

Other members of the taskforce include J Meena Kumari, Executive Director (Life) IRDAI, Chairman of Life Insurance Corporation of India (LIC), CEOs of HDFC Life Insurance, ICICI Lombard General Insurance Company, Aditya Birla Health Insurance Company, CMDs of New India Assurance Company, General Insurance Corporation of India, among others.

The task force is expected to submit the report within a period of 1 month from the issuance of the order.