New Delhi, Dec. 16 -- Finance Minister Nirmala Sitharaman on Tuesday introduced the Insurance Laws (Amendment) Bill, 2025, titled "Sabka Bima Sabki Raksha", in the Lok Sabha, aiming to strengthen policyholder protection, deepen insurance penetration and accelerate the growth of the insurance sector in the country.

The Bill seeks to amend key legislations, including the Insurance Act, 1938, the Life Insurance Corporation Act, 1956, and the Insurance Regulatory and Development Authority of India (IRDAI) Act, 1999. The proposed amendments are aligned with the government's long-term vision of achieving 'Insurance for All by 2047' and improving ease of doing business in the sector.

A major highlight of the Bill is the proposal to raise the F...