MUSCAT : The penalty was issued following the company’s failure to adequately protect its electronic systems, as well as its lack of mechanisms to retrieve critical data and information in the event of a loss. This violation breaches Article 17 of the regulation governing health insurance claims administration, issued under Decision No. 34/2020.

“Article 17 of the regulation provides that the licensed company shall provide the required protection for the electronic system and secure the data and information from hack by any unauthorized person and to put in place methods for data and information retrieval in case of loss for whatever reason as well as taking the required measures for emergencies or system failure or technical glitch to ensure business continuity and efficient operation,” stated the FSA decision.

FSA emphasized that it will continue implementation of the applicable regulations of the insurance sector to ensure full compliance with the laws to enhance consumers’ confidence and the sector’s stability.

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