New rules from the Central Bank will prevent automatic renewals of pet insurance, travel insurance, gadget insurance, and dental insurance. Consumers must provide consent before their policies are automatically renewed. This measure is part of the revised Consumer Protection Code and seeks to improve consumer rights, giving individuals greater control over their insurance decisions. Automatic renewal can lead to unwarranted charges, making this change significant for consumer protection in the insurance market.
Under new rules being rolled out by the Central Bank as part of its revised Consumer Protection Code, consumers will no longer have their policies for pet insurance, travel insurance, gadget insurance or dental insurance automatically renewed unless they have provided their consent in advance.
The changes aim to enhance consumer rights by ensuring that consumers have more control over their insurance policies and are not automatically enrolled into renewals without their explicit agreement.
Collection
[
|
...
]