The Insurance Regulatory and Development Authority of India (Irdai) will frame fresh regulations and amend existing norms within six months of the implementation of the Sabka Bima, Sabki Raksha (Amendment of Insurance Laws) Act, 2025, according to minutes of the regulator’s 134th authority meeting held in March 2026 and released on Friday.
The Sabka Bima, Sabki Raksha Act was notified on December 21, 2025, and came into effect on February 5, 2026. Irdai said the process of drafting new regulations under the amended law, along with revising existing regulations, must be completed within six months from the date of implementation.
The authority also approved in-principle proposals to draft and publish the proposed regulations for stakeholder consultation, in line with the regulatory mechanism cleared during its 119th authority meeting on July 26, 2022.
According to the agenda note, the proposed regulations will be issued for public consultation before being finalised under the amended insurance law framework.
First Published: May 15 2026 | 7:27 PM IST