ISLAMABAD: The Securities and Exchange Commission (SECP) has approved the curriculum for foundation course for life and non-life insurance agents.
According to the notification, the SECP also issued minimum infrastructural/training and faculty requirements for recognition of the institutes by the commission.
The course contents consist of basic principles, role of insurance agents, risks and insurance, claims handling and law governing insurance industry. The SECP has approved the Institute of Capital Markets and Pakistan Insurance Institute as recognized institutes and authorized them to train insurance agents as required by Rule 26(b) of the 2002 SEC (Insurance) Rules as amended vide S.R.O. 649(I)/2015 dated July 2, 2015.
In addition, as per the S.R.O. 649(I)/2015, the minimum educational requirement of higher secondary school certificate or equivalent has been prescribed for the persons entering agency contract with insurers. The said requirement is applicable to the persons entering any such agency contract for the first time.
