Hello, Learned Counsel!
Explain “The insurance Amendment Bill 2021” in simple words as I have no idea regarding Insurance Act. Also, suggest whether is it better than before.
sneha jaiswal 12 April 2021
Hello, Learned Counsel!
Explain “The insurance Amendment Bill 2021” in simple words as I have no idea regarding Insurance Act. Also, suggest whether is it better than before.
aditi srivastava 12 April 2021
greetings
The Insurance (Amendment) Bill, 2021 was introduced on 15th March 2021 in Rajya Sabha by the Minister of Corporate Affairs, Ms. Nirmala Sitharaman, The Bill amends the Insurance Act, 1938. It provides the framework for the functioning of insurance businesses and regulates the relationship between an insurer, its policyholders, its shareholders, and the regulator. Its purpose is to increase the maximum foreign investment allowed in an Indian insurance company. (from 49% to 74%)
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