Federal Insurance Ombudsman Secretariat in collaboration with KCCI organised awareness session regarding its initiative drive titled Dispute Resolution Mechanism of FIO for the representatives of trade and business community. FIO Raeesuddin Paracha briefed at length about historical perspective of FIO Secretariat, giving detailed presentation about the working of the FIO Secretariat, he said that the establishment of FIO Institution was an initiative of the Federal Government to protect the rights of all the stakeholders in insurance business.

He added that this institution was established in 2006 and operating under an Insurance Ordinance, 2000. He briefed about Complaint Filing Procedure and other available facilities being provided by the FIO Secretariat to aggrieved Policy Holders. He further said "the prime role and mandate of FIO Secretariat is to ensure prompt and in-expensive redressal of disputes pertaining to mal-administration between the insurance companies and policy holders. Policy holders can file their complaint by courier, by hand, online or through email. The services are free of cost, consumer friendly and the complaints are resolved within 60 days after fulfilling the requirements of Section 129 of Insurance Ordinance, 2000.

Representatives of trader and business community also participated in question answer session followed by detailed presentation. Earlier, Shamim Ahmed Firpo also addressed the event and gave important feedback on behalf of the business community to the FIO Team. He also added that recognising the needs of business community, it was essentially required to make them aware of the availability of FIO Institution; KCCI collaborated with FIO Secretariat to take steps towards creating awareness by conducting such events in KCCI.-PR

Copyright Business Recorder, 2016