IRDAI Proposes Mandatory Public Consultation Framework for All Future Regulations

IRDAI has proposed a formal regulation-making framework under the Sabka Bima Sabki Raksha Act, requiring it to publish draft regulations with a minimum 21-day public comment window and publish responses to stakeholder feedback. For builders, this is a structural shift — you now have a codified, predictable window to shape rules on product filing, distribution, and claims before they're locked in.

Source: Business Standard ↗