IRDAI to Prepare Fresh Insurance Regulations within 6 Months Under Sabka Bima, Sabki Raksha Act

The Insurance Regulatory and Development Authority of India is preparing a fresh set of regulations and amendments to existing insurance norms following the implementation of the Sabka Bima, Sabki Raksha (Amendment of Insurance Laws) Act, 2025, according to minutes of the regulator’s 134th authority meeting released on 18 May 2026, as per news reports. 

Fresh Regulatory Framework Under Preparation 

The insurance regulator stated that the process of drafting new regulations and updating current rules must be completed within 6 months from the implementation date of the amended law framework. 

The Sabka Bima, Sabki Raksha (Amendment of Insurance Laws) Act, 2025 was officially notified on December 21, 2025, and became effective from February 5, 2026. 

The latest developments were discussed during IRDAI’s 134th authority meeting held in March 2026. 

The regulator indicated that multiple regulatory changes would now be aligned with the amended insurance legislation introduced earlier this year. 

Stakeholder Consultation Process Approved 

IRDAI has also granted in-principle approval for drafting and publishing the proposed regulations for wider stakeholder consultation before final implementation. 

The consultation mechanism will follow the regulatory process framework approved during the authority’s 119th meeting conducted on July 26, 2022. 

According to the agenda note released by the regulator, the proposed rules will first be placed in the public domain for feedback and consultation before final notifications are issued under the revised insurance law structure. 

Read More: IRDAI May Introduce Effort-Based Insurance Agent Commission Framework Amid Review of Distribution Costs! 

Conclusion 

IRDAI’s plan to introduce fresh regulations and revise existing insurance norms marks the next major phase in implementing the amended insurance law framework, with stakeholder consultations expected to play a central role in shaping the final rules. 

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