IRDAI unveils reforms to boost insurance sector, improve policyholder protection

4 min readMumbaiUpdated: Jul 29, 2026 08:24 PM IST The new regulations establish a transparent, uniform and proportionate enforcement framework under the Insurance Act, 1938, and the IRDAI Act, 1999. (AI Generated Image) The Insurance Regulatory and Development Authority of India (IRDAI) has unveiled a comprehensive set of regulatory, supervisory and developmental reforms, marking a major milestone in its efforts to modernise the insurance sector, strengthen governance and accelerate insurance penetration across the country. The reforms, approved by the IRDAI board meeting on Tuesday, are designed to provide insurers with greater operational flexibility, facilitate capital formation, improve governance standards and reinforce policyholder protection while enhancing the ease of doing busine