Azhar Malik

President Arif Alvi has said that trust and confidence of people in the insurance system is a must for a stable economy and prosperity of the country. He was speaking as chief guest at a seminar titled “Role of federal insurance ombudsman in the provision of effective justice”.President Arif Alvi said that steps should be taken to increase the ratio of insurance in Gross Domestic Product. He said that it was essential for a vibrant economy to educate people and build their confidence in insurance. He said that the alternative dispute resolution (ADR) system was the best and an efficient mechanism adopted by the federal insurance ombudsman to provide quick justice to insurance policyholders and resolve their monetary disputes instantly.

Dr Arif Alvi said that as a parliamentarian from 2013 to 2018, he worked hard to evolve the ADR system for the benefit of people as tens of thousands of cases were pending in courts. He added litigation in courts was a lengthy as well as costly process to get justice. “We have to adjust our system to what people want to settle their disputes,” he said. He appreciated all five federal ombudsman offices for resolving complaints within 60 days. He stressed the need for adopting new technology, tools and innovations to compete with other countries.

Federal Insurance Ombudsman Dr Khawar Jamel said that his organisation was playing important role in the provision of justice to people without hiring any lawyer and without any monetary cost. He said that under the effective guidance and patronage of the President of Pakistan, the federal insurance ombudsman gave monetary relief of more than Rs2 billion to insurance policyholders in 2022 and complaints registration was increased by 300 times as compared to 2019.

Credit : Independent News Pakistan-WealthPk