# SECP proposes Rs 1 million fines for insurers that delay claims: 7-day document rule, 15-day motor surveys

Source: Searchable (https://searchable.pk/news/business/secp-proposes-rs-1-million-fines-for-insurers-that-delay-claims-7-day-document)
Type: News article
Author: Searchable Editorial
Published: 13 Oct 2026
Updated: 13 Oct 2026
Retrieved: 13 Oct 2026

> Proposed changes to the Insurance Rules 2017 would put every claim on a clock and let policyholders bring their own surveyor. Here is the timeline and what it means for you.

**Insurance claims in Pakistan would have to be assessed on a fixed clock** under rules the Securities and Exchange Commission of Pakistan (SECP) has proposed: insurers would get **seven days** to tell you which documents a claim needs, surveyors **15 days** to report on a motor claim and **30 days** on other claims, and a company that misses the deadlines could be fined **up to Rs 1 million**, plus **up to Rs 10,000 a day** while the breach continues, [ProPakistani reported](https://propakistani.pk/2026/10/13/secp-announces-new-fine-for-insurance-companies/) on Tuesday.

The changes are proposed amendments to the **Insurance Rules, 2017**. They are not in force yet: the SECP has put out a concept paper for comments from insurers, surveyors and the public before it drafts the final text, and no effective date has been given.

## The proposed claim timeline

| Step | Deadline |
|---|---|
| Insurer tells you which documents it needs | 7 days |
| Surveyor's report, motor claim | 15 days |
| Surveyor's report, other claims | 30 days |
| Extension, motor claim | 30 days at most |
| All extensions together | 6 months at most |

After a missed deadline the surveyor would have to explain the delay in writing and send progress updates every 30 days.

## What changes for policyholders

- **You know what to send, quickly.** The seven-day document list ends the back and forth that holds many car and health claims up for weeks.
- **A claim cannot stall on paperwork forever.** If you do not send the documents, the surveyor can finish the assessment on what is available, but only after **two written reminders at least five days apart**.
- **Your own surveyor.** Where the policy allows, you could hire a licensed surveyor at your own cost, and the insurer would have to consider that report when settling.
- **Challenge a conflict.** You could object to a surveyor who has a conflict of interest or a past dispute with you.
- **Licensed surveyors made compulsory** for motor claims above **Rs 50,000** and other claims above **Rs 100,000**.

## Rules for surveyors and insurers

Surveyors would keep claim records, photographs and documents for at least **five years**, complete **24 hours** of professional training a year and carry professional indemnity cover of **Rs 1 million or Rs 3 million** per event, depending on their revenue. Non-life insurers would need board-approved policies on how surveyors are appointed, assigned cases and monitored.

## What to do now

Nothing changes on your current claim until the rules are notified. If a claim is stuck today, the [Insurance Ombudsman](https://fio.gov.pk) and the SECP's complaint service already take complaints against insurers. Buying a car on finance? Our [car loan calculator](/tools/cars/car-loan-calculator) shows the monthly instalment. More on the regulator's recent actions: [SECP penalties of Rs 4.73 billion this year](/news/business/secp-imposes-rs-473bn-in-penalties-and-clears-98pc-of-its-case-backlog).

## Frequently asked questions

**How long does an insurance company in Pakistan have to settle a claim survey under the SECP proposal?**

Surveyors would have 15 days to report on a motor claim and 30 days on other claims, after the insurer has told you within 7 days which documents it needs. The rules are proposed, not yet in force.

**What is the fine for insurers that delay claims?**

Up to Rs 1 million, plus up to Rs 10,000 a day while the non-compliance continues, under the SECP proposal.

## Sources

- SECP Announces New Fine for Insurance Companies (13 Oct 2026) (ProPakistani): https://propakistani.pk/2026/10/13/secp-announces-new-fine-for-insurance-companies/

How to cite: "SECP proposes Rs 1 million fines for insurers that delay claims: 7-day document rule, 15-day motor surveys", Searchable, 13 Oct 2026, https://searchable.pk/news/business/secp-proposes-rs-1-million-fines-for-insurers-that-delay-claims-7-day-document