Federal Insurance Ombudsman Dr Khawar Jameel has said that insurance is a very import sector which provides risk coverage masses and businesses. Despite its importance the insurance penetration in Pakistan is dismally low due to lack of awareness while less than one percent of consumers takes the pain to study the insurance policy which result in disputes. Speaking at a seminar as the chief guest which was organised by Convener FPCCI Central Standing Committee on Insurance said Dr. Murtaza Mughal, he said that he is striving hard to improve the image of the sector amongst the general public and especially in the business circles. He said that the Federal Insurance Ombudsman is providing speedy and free of cost justice to the policyholders and that now mediation is preferred over litigation which has proved very fruitful as not a single appeal has been filed against our decisions over the last one year. Dr Khawar Jameel noted that insurance has remained a neglected sector in the past but now the government is paying full attention to its development and an awareness campaign is underway. He said that insurance companies should realise the latest trends in the market and adjust accordingly while improving their products and services. The official noted that complaints against bank insurance are increasing which indicate room for improvement in this sector. Speaking at the occasion, Dr Murtaza Mughal said that there are black sheep in the insurance sector which are defaming it and impeding growth. Delaying tactics by insurance companies in processing claims is denting the confidence of masses, he said, adding that majority opt for insurance when it is a legal requirement. He said that insurance coverage in Pakistan is less than one percent and the total premium is just 0.9 percent of the GDP against the regional average of 2.2 percent while the global average is hovering at 6.6 percent of the GDP. This sector can only prosper if the process of product designing, sales as well as the claim process is made transparent and the issues of policyholders are addressed in a proper way.