Covid-19 affects insurance sector indiscriminately: SECP

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Our Correspondent

Islamabad

The Security and Exchange Commission of Pakistan (SECP) has said that the lockdown situation and economic disruptions during the Covid-19 affected the insurance sector indiscriminately.
According to the annual report issued by SECP, the SECP taking Cognizance of its responsibility, has facilitated the insurance industry to prepare for corona virus impact by providing relaxation and relief in regulatory reporting and statutory filing requirements under applicable regulatory framework. The SECP also advised the insurance industry to prepare comprehensive plan envisaging how it will manage the effects of the coronavirus outbreak and assess disruptions and other risks to its services and operations, report said. Specific measures were also taken to provide necessary relief to the policyholders.

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