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ISLAMABAD, Pakistan: President Dr. Arif Alvi has directed the Federal Insurance Ombudsman (FIO) Dr. Muhammad Khawar Jameel to ensure the protection of the interest of insurance policyholders and provide them prompt justice against the maladministration of the Insurance Industry.
The President gave these directions at a meeting with FIO who called on him at Aiwan-e-Sadr in Islamabad on Tuesday.
The FIO presented Annual Report to the President for the year 2020 and briefed him about the achievements of his organization.
He highlighted that FIO, on the directions of the President of Pakistan, had provided monetary relief amounting to Rs. 2.13 Billion to the aggrieved policyholders during 2020.
SECP sensitizes people to carefully read term and conditions of insurance policies
Islamabad, March 15, 2021 (PPI-OT): To safeguard the interest of insurance policyholders, the Securities and Exchange Commission of Pakistan (SECP) urges public at large to carefully read all the contents of documents presented before them by an insurance agent before signing and ensure that they understand the terms and conditions of the product being offered. Reliance may not be placed on verbal promises made by insurance agents unless stated in the policy documents.
The SECP has always strived to develop a fair, efficient and transparent market, based on international legal standards and best practices, for the protection of investors and policyholders. A fair, efficient and transparent market is one where the interests of investors and insurance policyholders are adequately protected. The SECP has established complaint resolution forum known as Service Desk Management System (SDMS) for addressing
SECP asks people to review terms, conditions of insurance policies
Business
March 13, 2021
ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) urges public at large to carefully read all the contents of documents presented before them by an insurance agent before signing to understand the terms and conditions of the product being offered.
“Reliance may not be placed on verbal promises made by insurance agents unless stated in the policy documents,” an SECP statement said on Friday.
The SECP has always strived to develop a fair, efficient and transparent market, based on international legal standards and best practices, for the protection of investors and policyholders.
SECP asks people to review terms, conditions of insurance policies thenews.com.pk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thenews.com.pk Daily Mail and Mail on Sunday newspapers.
SECP asks people to review terms, conditions of insurance policies thenews.com.pk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thenews.com.pk Daily Mail and Mail on Sunday newspapers.