Tag: Insurance

SECP publishes report on Pakistan’s potential for micro and inclusive insurance

ISLAMABAD, Apr 16 (APP):The Securities and Exchange Commission of Pakistan has issued a report titled “Unlocking the Potential of Micro and Inclusive Insurance in Pakistan,” which provides an overview of the current landscape and vast untapped potential market for inclusive insurance. The report’s draft version and synopsis were presented at the International Insure Impact Conference,… Continue reading SECP publishes report on Pakistan’s potential for micro and inclusive insurance

President directs insurance company to refund Rs 100,000 with profit

ISLAMABAD, Jan 11 (APP):President Dr Arif Alvi has directed EFU Life Assurance Ltd to refund Rs 100,000 along with profit to a poor lady who had been misled to obtain the insurance policy. According to a press release issued by the President House Press Wing on Thursday, Zubaida Begum had obtained an amount of Rs… Continue reading President directs insurance company to refund Rs 100,000 with profit

President directs FIO to ensure conflict of interest disclosure before selling insurance policies

ISLAMABAD, Nov 3 (APP): President Dr Arif Alvi on Friday asked the Federal Insurance Ombudsman (FIO) to ensure that insurance companies disclosed the conflict of interest to the purchaser of the insurance policy before selling the policy as there had been instances of grave mis-selling of policies which required a serious relook at product structure… Continue reading President directs FIO to ensure conflict of interest disclosure before selling insurance policies

Health insurance for journalists, artists a step forward to equitable Pakistan: PM

ISLAMABAD, Aug 3 (APP): Prime Minister Shehbaz Sharif on Thursday said that the introduction of a health insurance facility for journalists and artists was a step forward to achieving the milestone of an equitable Pakistan as dreamt by Quaid-e-Azam. He was addressing the ceremony of agreement signing between the Ministry of Information and Broadcasting and… Continue reading Health insurance for journalists, artists a step forward to equitable Pakistan: PM

President emphasises speedy justice to people in insurance matters

Federal Insurance Ombudsman (FIO), Dr Muhammad Khawar Jameel, presenting the Annual Report 2022 of FIO to President Dr Arif Alvi, at Aiwan-e-Sadr, Islamabad, on May 10, 2023.

ISLAMABAD, May 10 (APP): President Dr Arif Alvi on Wednesday urged the Federal Insurance Ombudsman to ensure provision of speedy justice to the people in insurance-related matters. The president said this as Federal Insurance Ombudsman Muhammad Khawar Jameel presented him annual report of 2022 highlighting the institution’s performance. The president also called for creating awareness… Continue reading President emphasises speedy justice to people in insurance matters

President directs State Life to pay death insurance claim to widow

ISLAMABAD, Apr 19 (APP): President Dr Arif Alvi has directed the State Life Insurance Corporation of Pakistan (SLICP) to pay the death insurance claim worth Rs 300,000 to the widow of a deceased policyholder who was denied payment on the ground that her husband’s death was not the direct consequence of road accident but he… Continue reading President directs State Life to pay death insurance claim to widow

President directs reimbursement of 57,172 AUD health insurance claim to a citizen

President Dr Arif Alvi-File

ISLAMABAD, Apr 18 (APP): President Dr Arif Alvi has upheld the decision of the Federal Insurance Ombudsman (FIO) directing an insurance company to reimburse the full health insurance amount of 57,172 Australian Dollars (AUD) to a citizen, who had been denied the insured amount on flimsy grounds, within 30 days. The complainant (Fahad Mahmood) had… Continue reading President directs reimbursement of 57,172 AUD health insurance claim to a citizen

President for user-friendly insurance to protect farmers from crop losses

ISLAMABAD, Jan 25 (APP): President Dr Arif Alvi on Wednesday called upon the insurance companies to develop credible, authentic and sustainable mechanisms to provide insurance to crops and agricultural products in consultation and coordination which should be user-friendly, easy to execute and reachable for the farmers, especially with landholding less than 12.5 acres of land.… Continue reading President for user-friendly insurance to protect farmers from crop losses

President urges insurance sector to upgrade digital means, involve Ulema to motivate masses

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ISLAMABAD, Aug 4 (APP): President Dr Arif Alvi on Thursday urged the public and private insurance companies to advance the use of digital knowledge as per international standards to ensure maximum risk distribution. He also proposed the companies on involving the Ulema (religious leaders) with an aim to encourage people and spread knowledge about the… Continue reading President urges insurance sector to upgrade digital means, involve Ulema to motivate masses

President asks State Life to pay insurance money with profit to widow

ISLAMABAD, Jun 10 (APP): President Dr Arif Alvi on Friday asked the State Life Insurance Corporation of Pakistan (SLICP) to pay the Group Insurance claim with profits to the widow of a fireman from City District Government, Multan, who had died after retirement.  “The insured employee died in June 2016, and it has been six… Continue reading President asks State Life to pay insurance money with profit to widow

President asks State Life to pay insurance money to widows awaiting payment for 10 years

ISLAMABAD, May 23 (APP): President Dr Arif Alvi on Monday asked the State Life Insurance Corporation of Pakistan (SLICP) to pay the Group Insurance claims to the widows of firemen of the Fire Brigade Department, Metropolitan Corporation, Multan, who had died in service. “It’s saddening that insurance payments to poor widows are not carried out… Continue reading President asks State Life to pay insurance money to widows awaiting payment for 10 years

President asks insurance company to pay Rs 1.2 mln to widow of policyholder

ISLAMABAD, Apr 8 (APP): President Dr Arif Alvi has asked Jubilee Life Insurance Co. Ltd to pay Rs 1.2 million to the widow of a deceased policyholder. The company had ignored the payment of Rs 1.2 million as the unit price of the policy and simply returned an amount of Rs. 4.5 million, deposited by… Continue reading President asks insurance company to pay Rs 1.2 mln to widow of policyholder

Federal Insurance Ombudsman Dr. Muhammad Khawar Jameel presenting Annual Performance Report 2021 to President Dr. Arif Alvi at Governor House

APP51-290322 KARACHI: March 29 - Federal Insurance Ombudsman Dr. Muhammad Khawar Jameel presenting Annual Performance Report 2021 to President Dr. Arif Alvi at Governor House. APP Photo by Syed Abbas Mehdi
KARACHI

Fed Govt takes steps for betterment of insurance sector: President

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KARACHI, Sep 10 (APP): President Dr Arif Alvi on Thursday said the Federal Government was taking steps for betterment of the insurance sector and would extend every possible cooperation for the purpose. Chairing a meeting to discuss the matters related to the insurance and Beema sector, he stressed the need to address the public complaints… Continue reading Fed Govt takes steps for betterment of insurance sector: President

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