noun
insurance system; insurance regime
Refers to the overall framework, laws, and institutions that provide insurance coverage in a country or region.
日本の保険制度は複雑だと言われている。
Japan's insurance system is said to be complicated.
保険 is the general term for insurance, while 保険制度 specifically refers to the institutional system or framework of insurance.
Compound of 保険 (insurance) and 制度 (system, institution).