Policyholder Protection

Why it matters

• Ensures market stability by maintaining public trust in the insurance sector.
• Provides a grievance redressal mechanism to resolve disputes between insurers and the insured.
• Mandates transparency in policy documentation and claim settlement processes to prevent information asymmetry.
• Establishes solvency requirements to ensure insurers remain capable of meeting long-term liabilities.

How it is asked

Focus on the role of the insurance regulator in market conduct supervision, the evolution of consumer rights in financial services, and the mechanisms for policyholder grievance redressal.