Bangladesh, July 17 -- Quick settlement of long-pending insurance claims is one of the top priorities of the Insurance Development and Regulatory Authority (IDRA) in attempts to restore public trust in the insurance sector, says the newly appointed chief.

The regulator has moved to liquidate assets of financially distressed insurers to repay policyholders' claims. It is simultaneously striving to stop illegal commission practices, introduce risk-based supervision and enforce mandatory unique policyholder IDs.

Speaking at a view exchange meeting with journalists on Thursday, IDRA chief Mir Nadia Nivin said trust in the insurance sector would gradually return once policyholders began receiving their long-overdue claim payments.

Ms Nivin...