Policyholder Protection Act

The Policyholder Protection Act is a law designed to safeguard the rights and interests of individuals who purchase insurance policies. It ensures that insurance companies treat policyholders fairly, disclose important information transparently, and have sufficient financial resources to fulfill claims. The act sets standards for insurance practices, helps prevent misconduct, and provides mechanisms for resolving disputes. Overall, it aims to build trust in the insurance market, ensuring policyholders are protected against unfair treatment and that their insurance policies will reliably support them when needed.