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Consumer Protection PPRs Insurance
What is the primary purpose of the **Policyholder Protection Rules (PPRs)** issued under the Long-Term and Short-Term Insurance Acts?
RE5 practice question with a worked answer. This is one of hundreds of FSCA RE5 questions in the RegulatoryExams question bank.
- a) To set minimum standards for the fair treatment of policyholders by insurers.Correct
- b) To determine the premium rates for all insurance products.
- c) To license and debar insurance agents and brokers.
- d) To manage the solvency and capital of insurance companies.
Why this is the answer
The PPRs are market conduct regulations that set the minimum standards for how insurers (Product Suppliers) must treat their policyholders. They cover areas like disclosure, complaints, and advertising, ensuring fair treatment.
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