{
  "id": 12261776,
  "title": "SECP talk series: Pakistan a big market for inclusive insurance: MIC official",
  "url": "https://urgent.news/2026/10/06/secp-talk-series-pakistan-a-big-market-for-inclusive-insurance-mic",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-06T00:18:33.000Z",
  "source": {
    "name": "Business Recorder",
    "slug": "business-recorder",
    "url": "https://www.brecorder.com/news/40442768/secp-talk-series-pakistan-a-big-market-for-inclusive-insurance-mic-official"
  },
  "original_language": "en",
  "account": "The Micro Insurance Centre at Milliman's Michael J. McCord emphasized Pakistan's potential as a significant market for inclusive insurance. He stated that such insurance can bolster social protection and contribute to progress towards the Sustainable Development Goals. This discussion took place during the SECP Talk Series session on \"Inclusive Insurance: Global Insights\" held at the SECP Headquarters on Monday. The session aimed to explore the role of microinsurance in helping low-income families, farmers, and small businesses recover from unexpected events without exhausting their savings or selling essential assets. SECP Commissioner Imtiaz-Haider stressed the importance of affordable risk protection in promoting financial inclusion, reaffirming the Commission's commitment to an inclusive and trusted insurance sector. McCord highlighted the potential to expand insurance coverage for underserved households, farmers, workers, and small businesses in Pakistan, emphasizing that insurance can protect livelihoods, enhance financial resilience, and bolster the social safety net. He stressed that insurance products must offer tangible value to consumers, being easy to comprehend, affordable, and tailored to customers' actual needs. McCord urged insurers to build public trust through reliable and prompt claims processing, as customer experiences during claims can significantly impact the industry's reputation. He also highlighted the role of digital technology and alternative distribution channels in reducing costs and broadening coverage. SECP Chairman Dr. Kabir Ahmed Sidhu joined the discussion, revealing that the Commission is advancing insurance market development by digitizing the regulatory ecosystem, facilitating digital insurers, and encouraging simple, accessible products. Sidhu also mentioned that the Insurance Bill, currently before Parliament, would be a transformative change for Pakistan's insurance sector by modernizing the legislative framework, supporting market expansion, and fostering innovation and product diversification while strengthening consumer protection. The session gathered insurance industry representatives, development-sector stakeholders, students, and senior SECP officials.",
  "summary": "ISLAMABAD: Pakistan offers a large market for inclusive insurance, which can strengthen social protection and support progress towards the Sustainable Development Goals, said Michael J. McCord, Managing Director of the Micro Insurance Centre at Milliman, at the SECP Talk Series session on “Inclusive Insurance: Global Insights”. The SECP Talk Series session was held here on Monday at the SECP…",
  "key_points": [
    "Pakistan identified as major market for inclusive insurance.",
    "Microinsurance can improve social protection and SDG progress.",
    "SECP aims to expand coverage for underserved populations."
  ],
  "editors_take": "Pakistan's insurance sector is poised for expansion with a focus on inclusive insurance, which could bolster social protection and financial resilience for low-income households, farmers, and small businesses.",
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}