
Episode #26
[India] Key Regulatory Updates in Insurance Sector
This episode covers important regulatory advancements impacting AI Governance, Combating Financing of Terrorism (CFT), legislation, Know Your Customer (KYC), and Anti-Money Laundering (AML) within the Indian insurance sector. The Insurance Regulatory and Development Authority of India has issued new orders for forming and reconstituting expert groups, advisory committees, and task forces to strengthen governance, regulatory compliance, and operational oversight in the insurance industry. These bodies will address emerging technologies and legal compliance. Additionally, the regulator has consolidated AML and CFT guidelines, emphasizing mandatory electronic KYC procedures, Aadhaar authentication, and uploading KYC data to the Central KYC Records Registry. These initiatives aim to enhance due diligence and mitigate risks related to money laundering and terrorist financing. Key legislative updates include amendments to the Insurance Regulatory and Development Authority Act 1999, the Insurance Act 1938, and the inclusion of the Sabka Bima Sabki Raksha Act, 2025. Insurers must align their policies with these changes to ensure full compliance. For more information, visit the Carver Agents website . Articles mentioned: Orders Antimoney laundering and CFT Acts

