Jul 19, 2022
Welcome to RIMScast. Your host is Justin Smulison, Business Content Manager at RIMS, the Risk and Insurance Management Society.
The government of India is demonstrating that it takes internet safety and cyber security very seriously. On April 28, 2022, the Ministry of Electronics and Information Technology (MeitY) issued directions to be followed in case of a cyberattack or cyber event.
Here to discuss these new directives and how they impact global risk professionals is Jyoti Krishnan, the Vice President of Liability Claims at Prudent Insurance Brokers Pvt. Ltd! Jyoti has her finger on the pulse of cyber claims and is uniquely qualified to fill listeners in on what they need to know if they operate a business in India or do business there and are a victim of a cyberattack.
Tune in to find out what you need to know as a risk professional about the new government-issued cyber security directives in India!
[:01] About the RIMS Membership.
[:14] About RIMScast.
[:27] About today’s episode with Jyoti Krishnan.
[:36] Upcoming RIMS webinars, workshops, and events!
[2:25] More about today’s episode.
[3:12] Justin welcomes Jyoti Krishnan to RIMScast!
[3:30] Is Cert-In similar to the Cybersecurity and Infrastructure Security Agency in the U.S.?
[4:10] Joyti explains how CERT-In is a part of MeitY.
[4:59] Why Joyti, as VP of Liability Claims at Prudent Insurance Brokers, has been closely following MeitY’s new directives.
[5:29] High-level directions from MeitY that businesses need to follow and that risk professionals in India should know.
[7:32] The guidelines state that you need to report a cyberattack within six hours of discovery. Why are these six hours so critical?
[9:03] Do the MeitY guidelines apply to businesses that are headquartered in India? Or do they apply to anyone who does business in India?
[10:52] RIMS plug time! Everything you need to know about upcoming events, webinars, and more!
[13:31] Are there certain centers in India that are equipped to handle cyber attacks?
[15:48] Has Jyoti worked directly with CERT-In?
[16:16] From Joyti’s experiences, how strong is the communication between CERT-In and business leaders when it comes to cyber reporting?
[18:56] Jotyi’s parting words of wisdom to the RIMScast audience.
[20:30] Justin thanks Jyoti Krishnan for joining the podcast and shares some of the links to check in today’s show notes.
Mentioned in this Episode:
RIMS Events, Education, and Services:
RIMS Advocacy — Legislative Summit Returns on September 20th!
RISKWORLD registrants can still access educational sessions on-demand through the RISKWORLD app and through desktop here.
The 2022 Florida RIMS Educational Conference | Naples, FL | July 26‒July 30
Create a Contract that Effectively Transfers Risk | Naples, FL | July 30‒31 (Save $200 at checkout with code LEARNFL22 if you are also attending the Florida Educational Conference!)
RIMS Western Regional — Oct. 3‒5, 2022 — Long Beach, CA
RIMS South Asia Risk Forum — Dec. 2‒3, 2022 in Mumbai, India
“RIMS-CRMP Exam Prep Virtual Workshop” co-hosted by St. John’s University — Aug 3‒4
“Fundamentals of Risk Management” — Aug 10‒11
Sponsored RIMScast Episodes:
“A Look at the Cyber Insurance Market” | Sponsored by AXA LA (NEW)
“How to Reduce Lithium-Ion Battery Fire Risks” | Sponsored by TÜV SÜD
“Managing Global Geopolitical Risk in 2022 and Beyond” | Sponsored by AXA XL
“Keeping Subcontractors Safe Through Partner Elevation” | Sponsored by Highwire
“ESG: A Responsibility and a Growing Megatrend” | Sponsored by Prudent Insurance Brokers Ltd.
| Sponsored by Gallagher Bassett
“Bermuda Opportunities in 2022 with BDA Chair Stephen Weinstein” | Sponsored by Bermuda Business Development Agency
“SyncR: A Tool to Enhance Your Risk Quality & Insurance Strategy” | Sponsored by Prudent Insurance Brokers Ltd.
“Navigating the Risk Landscape in 2022” | Sponsored by AXA XL
“Prioritizing People: Expertise and Innovation” | Sponsored by Gallagher Bassett
“Risk Findings for the Industrial & Manufacturing Industry” | Sponsored by Aon
“Establishing the Right Assurance to Request From Business Partners” | Sponsored by HITRUST
“Aon’s 2021 Retail Industry Overview” | Sponsored by Aon
“A Legacy of Resilience” | Sponsored by J.B. Boda Group
“The Golden Era of Insurance” | Sponsored by The Hartford
“Insurance Investigation Trends Happening Now” | Sponsored by Travelers
“What Could a CRO Do for Your Business?” | Sponsored by Riskonnect
“Hard Reality: A Look at Rising Rates in Property & Excess Casualty” | Sponsored by AXA XL
“Property Valuation Deep Dive” | Sponsored by TÜV SÜD
“Property Loss Control Engineering” | Sponsored by Prudent Insurance Brokers
NEW RIMSCAST VIDEO: “Climate Change and Insurance: A Fireside Chat with Dev Bhutani and Deepak Madan” | Sponsored by Prudent Insurance Brokers Ltd.
Related RIMScast Episodes:
RIMS Publications, Content, and Links:
RIMS Membership — Whether you are a new member or need to transition, be a part of the global risk management community!
RIMS-CRMP Stories — New interview featuring RIMS-CRMP Chairman Ward Ching!
Want to Learn More?
Have a question or suggestion? Email: Content@rims.org.
Join the Conversation!
Follow up with Our Guest:
Tweetables (For Social Media Use):
“MeitY … came out with these directions in April of this year. … What these guidelines intend to do is create a framework of mandatory actions that any organization operating in our country, India, needs to take care of in the event of a cyberattack.” — Jyoti Krishnan
“There was a clarification given by MeitY, along with Cert-In, that even those organizations who may not have a physical presence in India may need to comply with these guidelines as long as they’re offering services to Indian users.” — Jyoti Krishnan
“Traditionally, … when we think of risk we think of physical risk. … If you’re not physically operating in a particular country, we are … OK with not complying with local laws which apply to organizations in that country. [These MeitY directives] change that.” — Jyoti Krishnan