Policy & Regulation

The MIIT Organizes Pilot Projects for Network Security Insurance Services

Updated:2023/12/21 18:31

According to the website of the Ministry of Industry and Information Technology, the General Office of the Ministry of Industry and Information Technology has issued a notice on organizing the pilot work of network security insurance services, intending to accelerate the implementation and application of new models of network security insurance, and soliciting network security insurance service plans from relevant network security insurance service institutions.

Based on the current types of network security insurance in China, the pilot insurance mainly includes two categories: network security property insurance and network security liability insurance.

Network security property insurance mainly covers direct losses caused by network security incidents to the first party and the resulting technical service costs, including direct physical losses, business interruption losses, data asset reset costs, hardware improvement costs, emergency response costs, as well as public relations expenses and legal expenses caused by network security incidents.

Network security liability insurance mainly guarantees the compensation liability for third-party individuals or institutions caused by network security incidents, including data leakage liability, network security incident liability, media infringement liability, outsourcing related liability, product liability or technical service professional liability, etc.

The pilot content includes enterprise insurance and network security products, information technology products, as well as network security service insurance targeting key industries such as telecommunications and the Internet, industrial Internet, and the Internet of Vehicles.

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