Karachi: In a major reform aimed at improving road safety and financial protection for citizens, the Government of Sindh has introduced mandatory motor third-party liability insurance for vehicles across the province.
Under the new policy, financial compensation for road accident victims has been significantly increased. In the unfortunate event of death, the victim’s family will receive Rs1,000,000, while Rs500,000 will be provided in cases of permanent disability, offering stronger protection to road users.
With this initiative, Sindh has become the first province in Pakistan to effectively enforce mandatory motor third-party liability insurance through an improved legal and regulatory framework.
To facilitate implementation and ensure transparency, the Securities and Exchange Commission of Pakistan (SECP) has launched the Motor Insurance Repository (MIR). This centralized digital system maintains records of motor insurance policies issued by insurers registered with the Commission.
The MIR enables authorities to digitally verify motor insurance policies, helping ensure compliance with minimum legal insurance requirements during the vehicle registration process.
Officials say the reform will strengthen the protection of accident victims, promote responsible vehicle ownership, and improve transparency in the insurance sector. Experts believe this step could serve as a model for other provinces to follow in enhancing road safety and insurance compliance.
Karachi: In a major reform aimed at improving road safety and financial protection for citizens, the Government of Sindh has introduced mandatory motor third-party liability insurance for vehicles across the province.Under the new policy, financial compensation for road accident victims has been significantly increased. In the unfortunate event of death, the victim’s family will receive Rs1,000,000, while Rs500,000 will be provided in cases of permanent disability, offering stronger protection to road users.With this initiative, Sindh has become the first province in Pakistan to effectively enforce mandatory motor third-party liability insurance through an improved legal and regulatory framework.To facilitate implementation and ensure transparency, the Securities and Exchange Commission of Pakistan (SECP) has launched the Motor Insurance Repository (MIR). This centralized digital system maintains records of motor insurance policies issued by insurers registered with the Commission.The MIR enables authorities to digitally verify motor insurance policies, helping ensure compliance with minimum legal insurance requirements during the vehicle registration process.Officials say the reform will strengthen the protection of accident victims, promote responsible vehicle ownership, and improve transparency in the insurance sector. Experts believe this step could serve as a model for other provinces to follow in enhancing road safety and insurance compliance.
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