Islamabad: President Asif Ali Zardari has upheld nine decisions of the Federal Insurance Ombudsman (FIO), instructing two insurance companies to compensate insurance policyholders or their family members with over Rs 15.2 million in total.

According to Pakistan Peoples Party, the President dismissed six appeals from EFU Life Assurance Ltd and three from Pak-Qatar Family Takaful Ltd against the FIO’s rulings. These companies had initially rejected claims regarding both monthly investment returns and death claims.

The insurance cases involved allegations by agents of EFU Life Assurance and Pak-Qatar Family Takaful, enticing clients with lucrative schemes. Following their unsuccessful claims with the companies, the complainants turned to the FIO, which ruled in their favor. The presidential hearings confirmed these decisions, leading to substantial payouts ordered for individuals including Mst Nazara Bibi, Mr Noor Hassan, and Mr Muhammad Shabbir among others.