insurance standards

Insurance standards are guidelines and rules that insurance companies follow to ensure fairness, consistency, and financial stability. These standards regulate how policies are written, claims are processed, and premiums are set. They help prevent unfair practices, protect consumers, and ensure that insurers can cover claims when needed. Think of them as the industry’s code of conduct, maintaining trust and reliability in the insurance system. Overall, they ensure that insurance services are transparent, fair, and financially sound for both providers and policyholders.