ISLAMABAD (Staff Report) – The Securities and Exchange Commission of Pakistan (SECP) has approved appointment of the members of three Small Dispute Resolution Committees (SDRC).

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.