2 weeks Ago By NEWS WIRE
KARACHI - The Federal Insurance Ombudsman has announced a major crackdown against insurance companies found guilty of criminal negligence in paying legitimate claims to poor, orphaned, widowed, and ill policyholders. According to a press release issued by Media Office of the Federal Insurance Ombudsman, Federal Insurance Ombudsman Mumtaz Ali Shah stated that this decision was taken following directives received during a recent meeting with the President of Pakistan, Asif Ali Zardari. The meeting was held to present the institution’s annual performance report to the president.
Shah further added that urgent action is being taken to address complaints regarding mismanagement and fraudulent insurance policies sold by certain insurance companies. He emphasised that an implementation committee, led by Director General Mubashir Naeem Siddiqui, is working around the clock to ensure strict enforcement of the ombudsman’s decisions. Karachi mayor chairs condolence meeting of KMC Referring to the institution’s performance report for 2024, the Federal Insurance Ombudsman revealed that the office has broken all previous records in terms of complaint registration, resolution, and claim settlements.
A total of 6,116 complaints were registered in 2024, out of which 5,827 were resolved. As a result, the institution secured monetary relief worth Rs2.32 billion for complainants from various insurance companies.
He also highlighted the use of modern technology, which now enables complainants and insurance companies to participate in hearings from their homes. This advancement has significantly saved time and travel costs for both parties. Tags: federal insurance ombudsman announces.
