Does the regulator play an active role into claim in the auto industry?

Expert Solution

Regulators play an active role in claim settlements and other claim related issues in the mentioned industry, because regulators have to protect the interests of the consumers and public. Regulators remain active, because with changing technologies in determining the claims, these regulators are also transforming themselves with latest tools and technologies. Regarding this, they keep coming up with new amendments and regulatory reforms to make claims to be an easy and streamlined process. Though, regulators do not make unnecessary interventions here and there to make the process to be slow and discouraging to the insurance companies. Hence, while being active, regulators know their roles and intervene when it is necessary and required.

keosha answered 2 years ago

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