Gazette Information

Gazette Title

Insurance Regulatory and Development Authority of India (Regulatory Sandbox) Regulations, 2025

Gazette Number

100GI/2025

Publication Date

January 1, 2025

Issuing Authority

Insurance Regulatory and Development Authority of India

Summary

• Facilitates innovation in the insurance sector while ensuring orderly development and protection of policyholders' interests.
• Creates a regulatory sandbox environment to relax provisions of existing regulations for a limited scope and duration during experimentation.
• Regulations will be reviewed every three years unless earlier amendments are warranted.
• Defines the application process for promoting innovation in insurance, including eligibility criteria and conditions for granting permission.
• Outlines the responsibilities and liabilities of applicants during the experimentation phase.