Insurance sector regulator Irdai on Wednesday said it has formed a committee to review its information and security guidelines due to exponential increase in cyber-attacks across the globe in the wake of COVID-19. The economic situation owing to the pandemic has seen an exponential increase in cyber-attacks across the globe and in particular, the financial sector. This situation has necessitated regulators to re-look into their Cyber Security Guidelines applicable to all regulated entities in an effort to protect the financial systems, Irdai said in an order. The Insurance Regulatory and Development Authority of India (Irdai) had issued guidelines on cyber security in April 2017 as a part of its governance mechanism.