RAWALPINDI: The Securities and Exchange Commission of Pakistan (SECP) has urged businesses to safeguard their assets through fire and property insurance. This appeal was made during an awareness session organized in collaboration with the Rawalpindi Chamber of Commerce and Industry (RCCI), focusing on the risks and financial impacts of fire-related incidents on business operations.

According to Securities and Exchange Commission of Pakistan, the session, which took place at RCCI premises, attracted members of the business community, traders, and industrialists. It emphasized the need for comprehensive insurance coverage to mitigate the adverse effects of fire incidents, which can lead to property damage, business interruption, income loss, and livelihood disruption.

Insurance industry experts provided insights into fire and property insurance coverage, explaining key policy considerations, available protection options, and the claims settlement process. The discussions also included information about Takaful, a Shariah-compliant insurance alternative, and stressed the importance of business interruption coverage to aid financial recovery after insured losses.

The event concluded with an interactive question-and-answer session, giving participants the opportunity to clarify their understanding of insurance and Takaful products, coverage options, and claims-related issues. This initiative is part of SECP’s ongoing efforts to enhance awareness and adoption of fire and property insurance among businesses, particularly small and medium-sized enterprises, to promote financial preparedness and ensure business continuity.