The Securities and Exchange Commission of Pakistan (SECP) and the Rawalpindi Chamber of Commerce and Industry (RCCI) held an awareness session on Thursday to promote fire and property insurance. The event, held at the RCCI premises, aimed to educate the business community, traders, and industrialists on protecting commercial properties, machinery, equipment, and inventory from fire-related risks.
According to a news release, the session emphasized that fire incidents can cause more than just physical property damage; they can lead to business interruptions, loss of income, and the disruption of livelihoods. To combat these risks, participants were encouraged to implement effective fire prevention and safety measures while obtaining sufficient insurance coverage to protect against unforeseen losses.
Representatives from the insurance industry provided details on policy considerations, available protection options, and the process for settling claims. The session also featured information on Takaful as a Shariah-compliant alternative to conventional insurance. Additionally, the speakers highlighted the importance of business interruption coverage in helping businesses recover financially after an insured loss.
The SECP stated that the session was part of an effort to increase awareness and the uptake of fire and property insurance among businesses, with a particular focus on small and medium-sized enterprises. The goal is to encourage greater financial preparedness and ensure business continuity. An interactive question-and-answer period allowed participants to ask for clarification on insurance and Takaful products, coverage options, and claims-related matters.
