RCCI, SECP Organize Awareness Session on Fire & Property Insurance
RAWALPINDI: The Rawalpindi Chamber of Commerce & Industry (RCCI), in collaboration with the Securities and Exchange Commission of Pakistan (SECP), organized an awareness session on Fire & Property Insurance to educate the business community about insurance coverage, risk management, and protection of business assets against unforeseen incidents.The session was chaired by RCCI President Nosherwan Khalil Khan, accompanied by Senior Vice President Waseem Aslam and Vice President Ikram Abbasi, along with Executive Committee members and representatives from various business sectors.Addressing the session, RCCI President Nosherwan Khalil Khan appreciated the SECP and insurance industry experts for their participation and valuable insights. He emphasized that effective risk management and adequate insurance coverage are essential for businesses in today’s challenging environment. He stressed the importance of stronger collaboration among regulatory bodies, insurance companies, and chambers of commerce to help businesses mitigate potential risks and safeguard their assets.The speakers highlighted the financial implications of fire incidents and the critical role of insurance in protecting commercial properties, machinery, stocks, and other business assets. They pointed out that fire-related incidents not only cause damage to physical assets but can also disrupt business operations, lead to business closures, and adversely affect employment and livelihoods.
Insurance experts provided detailed briefings on fire insurance coverage, key policy terms and conditions, available insurance options, risk management measures, and the procedures for filing and settling insurance claims. They also advised businesses to adopt appropriate fire safety measures and secure adequate insurance coverage to minimize potential financial losses.The session featured prominent experts from the insurance industry, including Mr. Muhammad Aminuddin, CEO TPL Insurance; Mr. Muhammad Raza, Head of the Property Committee, Insurance Association of Pakistan (IAP); Mr. Mannan Mehboob, Senior Executive Vice President, EFU General Insurance; Mr. Muhammad Maroof, Senior Vice President, EFU General Insurance; and Mr. Syed Fazal Abbas, Regional Head, IGI General Insurance Limited.Mr. Afzal Shakir, Joint Assistant Vice President, Askari General Insurance, also shared his insights.
The SECP delegation was led by Ms. Bushra Aslam, Executive Director, along with directors, joint directors, assistant directors, and other management officials.The participants were also briefed on Takaful as a Shariah-compliant alternative to conventional insurance, as well as the importance of Business Interruption Insurance in ensuring business continuity and facilitating recovery following unforeseen incidents.SECP representatives highlighted the Commission’s ongoing efforts to promote insurance awareness, strengthen financial protection, and encourage insurance coverage among Small and Medium Enterprises (SMEs).
