Pakistan: A team has been formed by the regulator to investigate strategies to establish vehicle third-party liability insurance operations.

A working group has been established by the Securities and Exchange Commission of Pakistan (SECP) to investigate the viability of "Motor Third Party Liability (MTPL) Insurance" and the means by which it could be effectively implemented in the nation.

The SECP states in a statement that the group includes SECP officials, representatives of the Insurance Association of Pakistan (IAP), and experts in the industry. It will come up with a comprehensive plan for putting MTPL insurance into action, which will include a way to work together with the appropriate authorities.

The implementation of MTPL insurance in accordance with existing laws was the subject of extensive discussion at the working group's inaugural meeting on January 31, 2023. A timetable for discussing the recommendations with other relevant bodies was agreed upon; heightened awareness; availability of low-cost goods; as well as a single database of automobile insurance policies.

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