India, Dec. 20 -- Insurance legislation passed by Parliament earlier this week is set to be a game-changer for the sector's growth and help make insurance policies more accessible and affordable, as it aims to foster competition, LIC CEO and MD R Doraiswamy said.
A key strength of Sabka Bima Sabki Raksha (Amendment of Insurance Laws) Bill 2025 lies in its emphasis on policyholder protection and regulatory robustness, he said in a statement on Friday.
"By updating legacy provisions and strengthening governance norms, the amendments reinforce transparency, accountability, and prudential oversight across the insurance ecosystem. For policyholders, this translates into stronger safeguards, improved service standards, and enhanced confidence i...