Actuaries as catalysts for Pakistan’s insurance sector Pakistan’s insurance industry has over the years being experiencing steady growth, but it is currently experiencing many difficulties which includes the lacking or ineffective regulatory frameworks, sluggish sales function, and missing of sophisticated methodology as well. The role of the actuaries is the key element that may provide a way much to these problems is the involvement in the work of the non-life sector. The insurance sector in Pakistan has considerable constraints such as; inadequate regulations related to general insurance, inconsistency in sales practices and small size of general insurance. Nevertheless, the actuaries…
Author: Muhammad Abeer Farooq
After March 11, 2020, when the World Health Organization (WHO) declared officially a pandemic, the highest level of a health emergency. The countries closed their borders for arrivals, ordered businesses and offices to close, and instructed their population to self-quarantine. The global outbreak affected national and international activities including financial markets, global trade (import restrictions and cancellation of export orders), food, medical supplies, tourism, electronics, and a range of social activities which in turn restricted mobility and had a noticeable impact on global economic growth. Countries all over the world experienced the economic impact of coronavirus disease. This not only…
Pakistan barely participates in global carbon excretion, but the face-off climate change it suffers is immensely devastating. Pakistan is one of those endangered countries which are more likely to be affected by the changes in the atmosphere. The rate of warning it faces is substantially above the global average, with a 1.3 to 4.9 degrees Celsius probable increase by the 2090s. Pakistan has recently suffered from a major outbreak of flood which is still on the go with its extensive outcomes affecting over 14% of the total population. Above 1300 people have lost their lives which includes over 400 children. Million people are displaced…