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Pakistan: Regulator stresses need for terrorism insurance pool

June 23, 2014 - 6:00am

Faraz Uddin, joint director of the insurance division of the Securities and Exchange Commission of Pakistan, has said the "need of the hour is to set up terrorism insurance pool, " Business Recorder reported.

The recent Karachi airport attack resulted in cargo insurance losses of 5 billion Pakistani rupees ($50.8 million).

Mr. Uddin said the government seems least interested in setting up such insurance, despite the country having the highest rate of terrorist risk.

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