Insurance amendment Bill strengthens Irdai: LIC chief R Doraiswamy

For LIC, the proposed legislative changes will help the company in strengthening its reach, leveraging technology at scale, and for universal insurance coverage

The insurance amendment Bill strengthens the Insurance Regulatory and Development Authority’s (Irdai’s) ability to guide sectoral development, safeguard consumer interests, and foster innovation in alignment with national priorities, said R Doraiswamy, managing director & chief executive officer (MD & CEO) of the Life Insurance Corporation  (LIC) on Thursday. 

“A strong, empowered, and forward-looking regulator is indispensable for balancing growth with stability in a rapidly expanding insurance market”, Doraiswamy said. 

The Parliament on Wednesday passed the Sabka Bima Sabki Raksha (Amendment of Insurance Laws) Bill, 2025, marking a major overhaul of India’s insurance framework aimed at expanding coverage. 

“From the perspective