SECP issues new regulations to regulate corporate insurance agents, including bank insurance

The Securities and Exchange Commission of Pakistan has issued new regulations for public opinion to regulate corporate insurance agents, including bank insurance, to promote digitalisation in the insurance sector and prevent the sale of misrepresented insurance policies. ۔ The proposed regulations further streamline and streamline insurance policy sales procedures and ensure that the consumer is provided with as much policy information as possible.
The regulation also includes the procedure for making a telephone call to the buyer of the insurance policy for verification after purchasing the policy and the details of the information asked and provided over the phone.                                                                                                                        In addition, the policyholder will be provided policy documents in Urdu or English as per his wish. The proposed regulations also set out the procedure for commissioning insurance agents. The proposed regulations are provided on the SECP website. The public and partners can submit their suggestions and opinions to the Commission within 30 days. As a result of the feedback received, these regulations will be finalized ... Ijaz Khan