Sindh third-party motor insurance policies rise fortyfold in eight months

Policy numbers jump sharply

Issued policies grew from 11,200 in March to 452,515 by November. This represents an approximate growth of 3,940 percent over the eight month period. The Securities and Exchange Commission of Pakistan released these figures on Friday. Nearly 2.6 million vehicles are currently registered within the province.

Digital system enforces rules

Amendments to provincial motor vehicle legislation made third-party insurance mandatory in March. With backing from the Securities and Exchange Commission of Pakistan, the Sindh government launched this reform. To aid implementation, the commission established the Motor Insurance Repository as a digital verification tool. This system links policies directly with vehicle registration and taxation systems for authorities.

Officials plan national rollout

SECP Chairman Dr Kabir Ahmed Sidhu stated that insurance helps accident victims access compensation. He noted engagement with the Federal Government and Punjab to support similar laws. The goal is to make this insurance mandatory across all of Pakistan eventually.