SECP would give insurance surveyors 15 to 30 days to report, or face fines
A concept paper would also make licensed surveyors mandatory on larger claims and let policyholders hire their own, as the regulator tightens how insurers handle claims.
The Securities and Exchange Commission of Pakistan has proposed new requirements for the surveyors who assess insurance claims, aiming to stop claims sitting in queues. The regulator has issued a concept paper, as ProPakistani reported on 13 October, and wants stakeholder feedback before it drafts detailed amendments to the Insurance Rules, 2017. None of the paper's figures is final.
The proposals set firm deadlines. Insurers would have to tell policyholders which documents they need within seven days. Surveyors would have 15 days to submit a report on a motor claim and 30 days for other claims. Extensions would be allowed only in exceptional cases, capped at 30 days for motor claims and six months in total. A surveyor who misses a deadline would have to explain the delay and report progress every 30 days.
If a customer does not supply documents, the surveyor could finish the assessment with what is available, but only after at least two written reminders spaced at least five days apart.
Surveyors on larger claims
Licensed surveyors would become mandatory for motor claims above Rs50,000 and for other claims above Rs100,000. Policyholders could hire their own licensed surveyor at their own cost where the policy allows it, and insurers would have to take that report into account when settling. Customers could also challenge the appointment of a surveyor over a conflict of interest or a history of disputes.
Fines and professional standards
Fines of up to Rs1 million would apply for violations, with up to Rs10,000 a day for continuing non compliance. Surveyors would have to keep claim records, photographs and supporting documents for at least five years, and meet stricter qualification rules, including 24 hours of professional development a year. Professional indemnity cover of Rs1 million or Rs3 million per event would be required, depending on annual revenue. Non life insurers would need board approved policies for appointing surveyors, assigning cases and monitoring their work.
A second draft covers decisions
The concept paper follows a separate draft, the Insurance Market Conduct Rules 2026, which the regulator released for consultation in August. That draft applies only to individual policies and sets decision deadlines that start once the documents or survey report arrive: 20 days for life claims, five days for motor claims and seven days for other non life claims.
