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Insurance coverage

2024-01-09
THE fire incidents that took place in Karachi during 2023 have caused financial losses worth billions of rupees, including damage to building structures, machinery and stocks.

Besides, lives were lost and many were injuries in such incidents. The shopowners in malls were seen crying over the loss of their loved ones, and the destruction of their shops as well as the inventories and savings in their shops.

Unfortunately, these buildings did not have the needed standard fire prevention, firefighting and emergency fire exit mechanisms in place. They broadly lacked appropriate firefighting equipment and expertise. Other than implementing the laws related to emergency preparedness in multi-storied structures, there is a definite need to amend the existing laws to compensate the losses in such incidents.

An insurance cover should be made mandatory for all commercial entities.

All commercial establishments and shop-owners should obtain an insurance from reputable companies insuring the risk of the buildings, the inventories and, indeed, human deaths and injuries.

The departments concerned should pay due attention to the rising number of such incidents so that they may be prevented in the future. Let us all hope that the current year will be a better one compared to the preceding year.

SyedIqbal Hussain Karachi