Corporate Corner: Alfa Insurance to pay claim of Rs87.5m

Paracha has ordered Alfa Insurance Company Limited to pay Rs87.5 million to Rajwani Denim Mills immediately


Press Release March 04, 2018
Companies sign agreement to facilitate insurance clients PHOTO: REUTERS

KARACHI: Federal insurance ombudsman Muhammad Raisuddin Paracha has ordered Alfa Insurance Company Limited to pay Rs87.5 million to Rajwani Denim Mills immediately. Paracha issued the order after a few hearings. The complainant had said that Alfa Insurance Company Limited was contacted many times when a fire caused damage of Rs546 million in March last year, but it paid no heed. In the preliminary order, he has asked the insurance company to pay the claim of the damage to the building only. More hearings will be held to decide about the claims under other heads.  

Published in The Express Tribune, March 4th, 2018.

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