ROLE OF REGULATORY COMMITTEES IN PROTECTING THE INSURED AGAINST UNFAIR INSURANCE TERMS -INSURANCE SUPERVISORY COMMITTEE AND UNFAIR CLAUSES COMMITTEE "CASE STUDY"

Abstract

The modern public policy system plays a positive role in contracts, where the legislator seeks to intervene and regulate various economic and social areas to achieve significant interests for the state. Through this intervention, we will explore the manifestations of this modern public policy in insurance contracts, a vital economic sector in the contemporary era.

To safeguard collective and economic interests, the legislator has required both natural and legal persons to engage in insurance contracts (such as liability insurance). The legislator has not limited itself to this requirement but has also introduced a mandatory legislative framework aimed at regulating insurance activities. Additionally, the legislator has imposed obligations and conditions within the insurance contract to ensure a contractual balance between the two parties involved in the insurance agreement.

However, Despite the strength of Algerian legislation, the insurance contracts offered in the market contain unfair terms that undermine the content of the insurance contract and prevent the spread of an insurance culture. The work of the Insurance Supervisory Committee and the Committee on Unfair Terms should evolve from mere licensing bodies and financial oversight entities for insurance companies to bodies that scrutinize contract terms, annul unfair clauses, and protect the interests of the policyholder as well as the economic interests of the country.