Gopchade proposed establishing a dedicated policyholders’ protection framework, with separate arrangements for life and long-term insurance, as well as general insurance. Bharatiya Janata Party (BJP) Rajya Sabha MP Ajeet Madhavrao Gopchade has urged Prime Minister Narendra Modi to introduce a statutory protection mechanism for individual insurance policyholders in case a life insurance company becomes financially distressed, insolvent or bankrupt.