The Sectoral Oversight Committee on Alleviating the Impact of the Economic Crisis called on the Insurance Regulatory Commission to amend the laws, within a period of one month, to protect the insurance holders.
The committee, chaired by Member of Parliament Gamini Valeboda, asserted that if the industry is to be protected, the insurance holder must be protected. 
While outlining the necessary steps to be taken to amend the necessary laws, the committee recommended paying due attention to the foreign insurance companies that have been used 
for reinsurance. 
Further, a proposal was also put forward to create a five-year action plan for the Insurance Committee, under the preview of the Insurance Regulatory Commission.
The same meeting also summoned Regional Development Bank (RDB) regarding the delays in presenting the annual reports. Within one month, the institution has been instructed to present the 2020 and 2021 annual reports to Parliament.