Govt may introduce insurance laws amendment bill in Budget session

The government is expected to introduce a bill amending the Insurance Act, 1938, during the upcoming Budget session, aiming for 'Insurance for All by 2047'. The proposed amendments may include a composite license, differential capital regulations, reduced solvency norms, captive license issuance, changes in investment regulations, one-time registration for intermediaries, and permitting insurers to distribute other financial products.