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of <h1>Cabinet Approves Insurance Amendment Bills to Modernize Regulations and Boost IRDA's Efficiency in 2008.</h1> The Union Cabinet approved the introduction of the Insurance (Amendment) Bill, 2008, to amend the Insurance Act, 1938; General Insurance Business (Nationalization) Act, 1972; and Insurance Regulatory and Development Authority Act, 1999, in the Rajya Sabha. Additionally, the Life Insurance Corporation (Amendment) Bill, 2008, will be introduced in the Lok Sabha. These amendments aim to eliminate outdated provisions and enhance the Insurance Regulatory and Development Authority's ability to perform its duties more effectively.
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