PESHAWAR: President Dr Arif Alvi here on Thursday emphasized the need for launching insurance products at national level and wherever possible by looping in international insurance system for crop and flood insurances to protect the farmers from the losses and safeguard livelihood and property losses of the victims during manmade or natural calamities.
He said that increased confidence of the people on insurance industry and their products would catalyse fast track development and progress of the country.
The president expressed these views while addressing a seminar on “the effective role of FIO in the provision of justice”, at the Governor House.
Acting Governor of Khyber Pakhtunkhwa (KP), Mushtaq Ahmed Ghani, Federal Insurance Ombudsman (FIO), Dr. Muhammad Khawar Jameel, senior officials of FIO, representatives of insurance companies, and people from different walks of life attended the seminar.
The president called upon the government and the private sector to focus on developing insurance products for crop insurance and insurance of calamity-hit persons with user friendly interface and discuss and propagate its importance for its wider dissemination.
He further said that Pakistan had suffered greatly due to the negative fall outs of climate change and global warming, despite the fact that Pakistan’s contribution to global carbon emissions was negligible.
He appreciated the government’s efforts to urge the international community to compensate Pakistan for losses sustained by it due to climate change induced super floods.
He also emphasized the need for more effective institutional controls, and user-friendly laws and regulations to enhance transparency and effectiveness of the insurance sector.
The president appreciated the fact that FIO was providing relief to aggrieved insurance policy holders by instrument of Alternate Dispute Resolution (ADR), to settle the dispute out of court through mediation and mutual agreement for speedier and cost-effective dispensation of justice as compared to formal justice process.
He appreciated that due to the outreach and awareness campaigns launched by FIO, a significant increase in the number of complaints had been witnessed. He stated that complaints could be registered with FIO using its helpline number 1082 and its website, besides filing complaints manually or visiting its regional offices. –Agencies
