1) ISVAP has issued regulations to enhance transparency and consumer protection in the life insurance market. This includes Circular 551 which requires standardized summaries, comparisons of proposals, and rules for professional conduct. 2) Circular 551 introduced summary profiles to help consumers compare life insurance proposals and understand risks. It also mandates disclosure of policy information during the term of the contract. 3) The new Insurance Code of 2005 consolidated insurance regulations and transposed the EU Insurance Mediation Directive, requiring intermediaries to assess customer needs and provide advice.