IRDAI

Insurance Regulatory and Development Authority of India (IRDAI) recently approved 8 principle-based regulations, including Bima Sugam marketplace.

Rural obligations now measured by gram panchayat; social sector scope expanded.
Motor TP regulations focus on renewal of coverage for vehicles and tractors.
Bima Sugam aims to digitize insurance, empower policyholders, and achieve "Insurance for all by 2047".
New Corporate Governance regulations define roles for insurers' boards and management.
Unified Insurance Products framework to boost market response and penetration.
Consolidated regulations for Foreign Reinsurers Branches & Lloyd’s India to promote reinsurance sector growth.