Quote on Around Finance Minister`s introduction of Insurance Laws Bill 2025 by Narendra Bharindwal, President, Insurance Brokers Association of India
Below the Quote on around the Finance Minister’s introduction of the Insurance laws (Amendment) Bill 2025 in the Lok Sabha today by Narendra Bharindwal, President, Insurance Brokers Association of India
The Insurance Brokers Association of India (IBAI) expresses its sincere gratitude to the Hon’ble Prime Minister Shri Narendra Modi, Hon’ble Union Finance Minister Smt. Nirmala Sitharaman, Secretary, Department of Financial Services, Shri M. Nagaraju, IAS, Joint Secretary (DFS), Dr. Prashant Kumar Goyal, IAS, Chairman, IRDAI, Shri Ajay Seth, and Shri Satyajit Tripathi Ji, Member (Distribution), IRDAI, for steering and supporting the proposed Insurance Amendment Bill.
This landmark legislation modernises India’s insurance laws, opens the sector to global capital, strengthens consumer protection, and brings long-overdue clarity on the registration, accountability, and regulatory oversight of insurance intermediaries, making them clear, permanent, and non-negotiable.
IBAI believes this reform is a decisive step towards building a transparent, resilient, and globally competitive insurance ecosystem, fully aligned with the national vision of “Insurance for All by 2047.”
We look forward to continued collaboration with the Government of India and the regulator to ensure smooth implementation and to deepen insurance penetration across all sections of society.
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