IRDAI approves insurance reforms to ease compliance, improve governance
This story was originally published at 22:45 IST on 31 July 2026
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MUMBAI – The Insurance Regulatory and Development Authority of India Thursday said it has approved amendments to multiple regulations to strengthen the insurance sector, improve policyholder protection, and ease compliance for insurers and intermediaries.
The regulator approved amendments to regulations governing insurers' actuarial and finance-and-investment functions as well as registration, capital structure, transfer of shares, and amalgamation. The changes liberalise investment norms, facilitate capital infusion and corporate restructuring, and strengthen actuarial oversight and financial governance, according to a press release.
The authority also approved the IRDAI (Policyholders' Education and Protection Fund) Regulations, 2026, to operationalise the Policyholders' Education and Protection Fund under the Sabka Bima Sabki Raksha (Amendment of Insurance Laws) Act, 2025. The fund will support insurance awareness, grievance redressal, recovery of unclaimed insurance amounts, and other policyholder-centric initiatives.
Separately, the regulator approved amendments to intermediary regulations, including mandatory tagging of an authorised sales person to every insurance proposal, policy, and certificate of insurance to improve accountability and transparency. The changes also introduce perpetual registration with an annual fee regime in place of periodic renewals to reduce compliance burden, the regulator said. End
Reported by Meera Nair
Edited by Shubhayan Bhattacharya
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