New Delhi, Dec. 16 -- The Lok Sabha on Tuesday passed a bill that aims to strengthen policyholder protection, accelerate the growth of the insurance sector and raise the limit of FDI in the insurance sector from 74 per cent to 100 per cent.

'The Sabka Bima Sabki Raksha (Amendment of Insurance Laws) Bill, 2025' 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.

Replying to a debate on the Bill in the Lok Sabha, Sitharaman said the go...