IRDAI announces changes under Sabka Bima Sabki Raksha Act 2025
India's insurance regulator, IRDAI, just announced a bunch of new changes under the Sabka Bima Sabki Raksha (Amendment of Insurance Laws) Act, 2025.
Highlights include permanent registration for insurance intermediaries, a new fund (PEPF) to support and educate policyholders, and approval for ProTec General Insurance to start business.
Reforms ease insurance operations, attract investment
These reforms, cleared in July 2026, aim to make it easier for companies to operate and grow.
The PEPF will boost insurance awareness and help with complaints or unclaimed money.
There are also new rules for more transparent sales practices, and with relaxed foreign investment limits already in place, two insurers have already raised their stakes beyond the old 74% cap.
All this is expected to attract more investment and improve services for everyone who buys insurance.