ISLAMABAD (Staff Report) – The Securities and Exchange Commission of Pakistan (SECP) has approved appointment of the members of three Small Dispute Resolution Committees (SDRC).
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These committees have been constituted in Islamabad, Karachi and Lahore for mediation and resolution of disputes arising between the insurers and the policyholders.
The aggrieved policyholders will have a fast-track and free-of-cost remedy to their grievances, as the decisions of these committees will be binding on insurers.
Each Committee shall comprise of a chartered accountant or a management accountant, a lawyer and senior insurance industry professional.