IRDAI issues consultation paper on changes to regulation making process
The IRDAI has released a consultation paper proposing a new framework for how insurance regulations are drafted and reviewed. The changes aim to increase transparency and stakeholder participation in the regulatory process.
Why it matters
Standardizing the regulatory process is a key step in modernizing the insurance sector and protecting policyholders under new legislative frameworks.
The Insurance Regulatory and Development Authority of India (IRDAI) is proposing changes to how regulations are made in the backdrop of the framework introduced under the Sabka Bima Sabki Raksha (Amendment of Insurance Laws) Act, 2025.
The article is a technical summary of a regulatory proposal without political bias.
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