ISLAMABAD: Securities and Exchange Commission of Pakistan (SECP) in the diagnostic report released on insurance sector and motor third party insurance says that motor insurance coverage in Pakistan is only 3% which is very less compared to other countries. Is.
The SECP has issued a diagnostic report, taking a detailed look at the insurance sector and motor third party insurance. The report provides a comprehensive summary of the current situation of the insurance sector and the challenges faced with respect to motor third party insurance.
The report examines the legal framework applicable to motor third party insurance, the obstacles to its implementation, the current state of the motor insurance sector,
and the recent initiatives taken by the SECP to promote insurance. According to Pakistan motor insurance coverage is only 3% which is very less compared to other countries.
The report also presents reform proposals to enhance motor third party insurance coverage in Pakistan and enforce the existing mandatory motor third party insurance.
