SECP approves draft Insurance Bill 2017

SECP approves draft Insurance Bill 2017

The Securities and Exchange Commission of Pakistan (SECP) has approved the draft Insurance Bill, 2017.

It has been formulated to institute significant reforms in the insurance regulatory framework to bring it at par with the international standards and to ensure development of financially sound insurance sector where interests of policyholders are protected.

The bill has been sent to the Ministry of Finance for its onward submission to the Ministry of Commerce to start the necessary legislative process.

The draft Insurance Bill has been formulated through extensive public consultations and due legal process.