Insurance Firms: Rules for prudent management prepared
The Securities and Exchange Commission of Pakistan (SECP) has prepared the draft of regulations for sound and prudent management of insurance companies and has sought public opinion on the paper.
In a statement on Friday, the SECP said the draft had been published in newspapers and was also available on its website. The stakeholders have 30 days to file comments and objections, if any, on the paper. According to the SECP, in order to prepare the insurance sector to meet the challenges of globalisation and to avoid maladministration, the companies must be run by competent persons with adequate know-how of the insurance business.
Published in The Express Tribune, October 29th, 2011.
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