PESHAWAR, Pakistan: President Dr. Arif Alvi has stressed the need for launching insurance products at national level and wherever possible by looping in international insurance system for crop insurance and flood insurance to protect the farmers from crop losses and safeguard the livelihood and property losses of the victims during manmade or natural calamities.
While addressing a seminar on “The Effective Role of the FIO in the Provision of Justice” held at Governor House in Peshawar on Thursday, the president said that increased confidence of the people on insurance industry and their products will catalyse fast track development and progress of the Country.
The Acting Governor of Khyber Pakhtunkhwa (KP) Mushtaq Ahmed Ghani, the Federal Insurance Ombudsman (FIO) Dr. Muhammad Khawar Jameel, Senior Officials of FIO, the Representatives of Insurance Companies, and people from different walks of life attended the seminar.
President Arif Alvi 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.
The president further said that Pakistan had suffered greatly due to the negative fallouts 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.
Dr. Arif Alvi also urged 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.
President Arif Alvi 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.
The president said that he had tasked all five federal ombudsmen to highlight their role through effective awareness campaigns and publicise their landmark decisions, which would encourage the affectees to approach federal ombudsmen in case their rights are compromised.
The president called upon the general public to approach the Wafaqi Mohtasib, Federal Insurance Ombudsman, Banking Mohtasib, Federal Tax Ombudsman, and Federal Ombudsperson for Protection against Harassment at Workplace, against the maladministration and high-handedness of any department or entities of federal government for the redressal of their complaints within 60 days.
In his address at the seminar, the FIO Muhammad Khawar Jameel said that FIO was providing speedy, effective and free-of-cost justice to people within 60 days against the maladministration of insurance companies and was playing its role in making Pakistan’s insurance sector fairer and more transparent.
Khawar Jameel highlighted that due to the outreach efforts of FIO, the quantum of relief provided to insurance policyholders had risen from Rs 410 million in 2019 to over Rs 2 billion in 2022.
The FIO said that the Federal Insurance Ombudsman had shifted its focus from prosecution to persuasion and resolution of cases through mediation and mutual settlement.