China unveils guideline on cybersecurity insurance development-Xinhua

China unveils guideline on cybersecurity insurance development

Source: Xinhua

Editor: huaxia

2023-07-18 09:16:15

A staff member demonstrates features of a vehicle safety simulation platform at an exhibition during the Global Digital Economy Conference 2023 at the China National Convention Center in Beijing, capital of China, on July 4, 2023. (Xinhua/Ren Chao)

BEIJING, July 18 (Xinhua) -- China has released a guideline to boost the healthy development of the cybersecurity insurance sector.

The guideline was jointly released by the Ministry of Industry and Information Technology and the National Financial Regulatory Administration.

As a new type of insurance service, cybersecurity insurance will improve enterprises' ability to cope with cybersecurity issues, thus promoting the digital transformation of the country's small and medium-sized enterprises.

The country will further improve the supporting policies and regulations, promote the application of cybersecurity insurance among enterprises, and cultivate more high-quality cybersecurity insurers, said the guideline.

Efforts will also be made to encourage insurance companies to develop more diversified types of cybersecurity insurance services to meet the different needs of cybersecurity risk management, it added. 


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