Islamabad: President Asif Ali Zardari has enforced the rulings of the Federal Insurance Ombudsman (FIO), mandating two insurance firms to compensate a combined total exceeding 15.2 million rupees to nine policyholders or their beneficiaries. The directives come as the President dismissed multiple appeals from the insurance companies challenging the FIO’s decisions.
According to Ministry of Information and Broadcasting, the President dismissed six appeals from EFU Life Assurance Ltd and three from Pak-Qatar Family Takaful Ltd. These companies had previously contested the FIO’s rulings that favored the policyholders.
The FIO’s decisions, now upheld by the President, ensure that the individuals involved or their families are duly compensated, reinforcing the accountability mechanisms within the insurance sector.