SECP proposes major reforms to improve insurance complaint resolution

September 22, 2026 (MLN): The Securities and Exchange Commission of Pakistan (SECP) has proposed key reforms to ensure effective resolution of insurance consumers’ complaints, including increasing the number of Insurance Tribunals and Small Dispute Resolution Committees.

According to an SECP report, 37,029 insurance-related complaints were received across various forums in 2025.

The SECP recommended increasing the number of Insurance Tribunals according to geographical needs and publishing the list of Sessions Courts designated as Insurance Tribunals for public access.

It also recommended that the Ministry of Law and Justice ensure timely appointment of members of Insurance Tribunals.

The SECP proposed expanding the scope and geographical outreach of Small Insurance Dispute Resolution Committees and facilitating online submission of insurance complaints and documents.

The report recommended establishing an integrated digital system for the resolution of insurance complaints.

The SECP also recommended legal measures to transfer complaints against government-owned insurance companies to the Federal Insurance Ombudsman.

“We want to reduce complaint resolution time through technology,” said SECP Chairman Dr. Kabir Ahmed Sidhu.

“Accountability of insurance companies will be improved,” he added.

The SECP Chairman said the objective is to provide policyholders easy access to an appropriate forum for complaint resolution.

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