A consensus was reached in a seminar organised by Express Media Group that awareness about insurance is very low in the society. There is an urgent need for an awareness campaign regarding the insurance sector, which is very important and indispensable for the country’s economic development.

One cannot do anything without insurance all over the world, but in Pakistan the importance and usefulness of insurance is not even discussed much, although in the current era of inflation, insurance can significantly reduce financial loss. Through strengthening of an institution like the Insurance Ombudsperson to protect consumer rights, the public can gain confidence in the insurance system.

Punjab Governor Sardar Saleem Haider Khan, the chief guest on the occasion, said there is an urgent need to strengthen institutions like the ombudsman for the betterment of the society and justice.

The seminar on ‘Importance of bank insurance and the role of Insurance Ombudsman’ was organised by Express Media Group in collaboration with TPL Insurance in Lahore.

The governor, Federal Insurance Ombudsman Mumtaz Ali Shah, TPL Insurance Chief Executive Officer Muhammad Aminud Din and Federal Insurance Ombudsman Office DG Mubashir Naeem Siddiqui addressed the seminar.

Governor Sardar Saleem Haider said Federal Insurance Ombudsman Mumtaz Ali Shah has an excellent bureaucratic background and has rendered very important services in Sindh.

The federal insurance ombudsman said insurance does not have the importance it should have in the country’s economy. In developed countries, insurance is considered very important and no work is done without it.