‘Insurance companies should keep conditions transparent’

FIO says secrecy in insurance documents creates problems

MULTAN:

Insurance companies should not hide the terms and conditions from the customers because it creates problems after the policy is sold, said Federal Insurance Ombudsman (FIO) Dr Mohammad Khawar Jameel.  

Speaking at the Multan Chamber of Commerce and Industry (MCCI) after inaugurating a regional office on Wednesday, he said that transparency in insurance and GDP growth were among top priorities of his department office. He informed the participants that selling of insurance policies was not the job of a bank manager. He emphasised that this was one of the major cause of insurance related problems because bank managers fail to guide their customers properly which creates issues later on.

He stressed that insurance companies should keep all conditions transparent for their customers. He expressed eagerness to resolve insurance related problems by moving away from the traditional culture.

The FIO stated that the department extended relief worth Rs2.13 billion in 2020.

Talking about the reforms introduced by him, he said that he worked towards enlargement of the font in the documents for easy reading as well as translation of all forms in Urdu to facilitate the complainants. “Our young generation is talented, confident and we are hopeful that these young people will take Pakistan forward,” he said. “Our institution is working in a better manner and the FIO decides the case after listening to both parties.”

Published in The Express Tribune, December 16^th, 2021.

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