{"id":24255,"date":"2026-07-08T18:33:09","date_gmt":"2026-07-08T13:33:09","guid":{"rendered":"https:\/\/pakjazbo.com\/?p=24255"},"modified":"2026-07-08T18:33:10","modified_gmt":"2026-07-08T13:33:10","slug":"sindh-raises-road-accident-compensation-from-rs20000-to-rs700000-under-third-party-insurance","status":"publish","type":"post","link":"https:\/\/pakjazbo.com\/?p=24255","title":{"rendered":"Sindh Raises Road Accident Compensation from Rs20,000 to Rs700,000 Under Third-Party Insurance"},"content":{"rendered":"\n

KARACHI:<\/strong> The Securities and Exchange Commission of Pakistan (SECP) has announced a major increase in compensation for road accident victims in Sindh under the Motor Third-Party Insurance scheme, raising the payout from Rs20,000 to Rs700,000<\/strong>.<\/p>\n\n\n\n

According to the SECP, the revised compensation will be provided through an automated claims system<\/strong>, enabling victims or their families to receive payments quickly without the need for lengthy court proceedings.<\/p>\n\n\n\n

The regulator said the initiative is aimed at improving financial protection for road accident victims and ensuring faster access to compensation.<\/p>\n\n\n\n

Sharp Increase in Commercial Vehicle Insurance<\/h3>\n\n\n\n

The SECP also reported a significant expansion in commercial vehicle insurance coverage, stating that insurance policies for commercial vehicles have increased by 1,300 percent<\/strong>.<\/p>\n\n\n\n

The number of insured commercial vehicles has risen from approximately 11,000 to more than 165,000<\/strong>, reflecting wider compliance with insurance requirements and greater participation in the formal insurance sector.<\/p>\n\n\n\n

Expansion Planned Across Pakistan<\/h3>\n\n\n\n

The commission said preparations are underway to extend the Motor Third-Party Insurance framework beyond Sindh to Punjab, Khyber Pakhtunkhwa, and Balochistan<\/strong>.<\/p>\n\n\n\n

Once implemented, the expanded programme is expected to provide similar financial protection to road accident victims in other provinces.<\/p>\n\n\n\n

New Insurance Products for Retirees<\/h3>\n\n\n\n

The SECP further announced that life insurance annuity products<\/strong> are being introduced for retired individuals. These products are intended to provide retirees with a regular stream of income after retirement and strengthen long-term financial security.<\/p>\n\n\n\n

Crop Insurance and Takaful Sector Growth<\/h3>\n\n\n\n

In addition, the SECP said an insurance consortium<\/strong> has been established to support crop insurance, aiming to improve risk management for Pakistan’s agricultural sector.<\/p>\n\n\n\n

The regulator also noted that the Takaful (Islamic insurance) sector<\/strong> now accounts for 14 percent<\/strong> of the country’s insurance market. To support the sector’s continued growth and regulatory oversight, the SECP has issued new operational guidelines<\/strong> for Takaful providers.<\/p>\n\n\n\n

The commission said these measures are part of broader efforts to modernize Pakistan’s insurance industry, expand financial inclusion, and provide stronger protection for individuals, businesses, farmers, and retirees.<\/p>\n","protected":false},"excerpt":{"rendered":"

KARACHI: The Securities and Exchange Commission of Pakistan (SECP) has announced a major increase in compensation for road accident victims in Sindh under the Motor Third-Party Insurance scheme, raising the payout from Rs20,000 to Rs700,000. According to the SECP, the revised compensation will be provided through an automated claims system, enabling victims or their families […]<\/p>\n","protected":false},"author":1,"featured_media":24256,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"pagelayer_contact_templates":[],"_pagelayer_content":"","inline_featured_image":false,"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"no","rop_publish_now_accounts":{"facebook_3859443944190656_798604363342440":""},"rop_publish_now_history":[{"account":"facebook_3859443944190656_798604363342440","service":"facebook","timestamp":1783517639,"status":"success"}],"rop_publish_now_status":"done","footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[],"class_list":["post-24255","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-pakistan"],"jetpack_publicize_connections":[],"_links":{"self":[{"href":"https:\/\/pakjazbo.com\/index.php?rest_route=\/wp\/v2\/posts\/24255","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/pakjazbo.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/pakjazbo.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/pakjazbo.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/pakjazbo.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=24255"}],"version-history":[{"count":1,"href":"https:\/\/pakjazbo.com\/index.php?rest_route=\/wp\/v2\/posts\/24255\/revisions"}],"predecessor-version":[{"id":24257,"href":"https:\/\/pakjazbo.com\/index.php?rest_route=\/wp\/v2\/posts\/24255\/revisions\/24257"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/pakjazbo.com\/index.php?rest_route=\/wp\/v2\/media\/24256"}],"wp:attachment":[{"href":"https:\/\/pakjazbo.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=24255"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/pakjazbo.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=24255"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/pakjazbo.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=24255"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}