The Sabka Bima Sabki Raksha (Amendment of Insurance Laws) Bill, 2025 on December 16, 2025, to further amend the Insurance Act, 1948.
Throughout the Insurance Act, 1938, -
a) For the words “business of insurance”, wherever they occur, the words “insurance business” shall be substituted.
b) With respect to the term “insurer”, wherever it occurs, for the consequential terms, in respect of the same like “he, him, or his”, the words “it or its” shall be substituted.
c) For the words “intermediary or insurance intermediary”, wherever they occur, the words “insurance intermediary” shall be substituted.
d) In section 2 of the principal Act, (i) in clause (3), in sub-clause (ii), for the words “or city improvement trust in any presidency town”, the word “; and” shall be substituted.
e) Sub-clause(iv) shall be omitted.
Please refer to the document attached below for more details
