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SECP backs Sindh’s third-party insurance decision | The Express Tribune
Province makes third-party motor insurance mandatory to enhance financial protection for road users
ISLAMABAD:
The Securities and Exchange Commission of Pakistan (SECP) has backed Sindh in its decision to make third-party liability insurance mandatory for all vehicles registered in the province.
The government of Sindh has formally introduced amendments to the Motor Vehicles (Amendment) Act, 2026, making third-party liability insurance mandatory for all vehicles registered in the province to enhance financial protection for road accident victims.
In a statement, the SECP said that it had been continuously engaging with the provincial governments to strengthen the legal framework and ensure effective enforcement of mandatory third-party motor insurance across the country.
Through this amendment to the Provincial Motor Vehicles Ordinance, 1965, a new Section 67H has been introduced, requiring third-party liability insurance for motor vehicles. Under the revised framework, no vehicle will be registered, transferred or allowed to pay annual token tax without a valid insurance policy covering third-party risks.
Third-party motor insurance is a basic and affordable policy that covers legal liabilities for damage to property, injuries or death caused to another person in an accident.
The amendment also introduces defined compensation limits on a no-fault basis, ensuring timely financial relief to victims or their legal heirs. The compensation includes Rs700,000 in case of death and Rs500,000 for permanent disability, significantly strengthening protection for road users.
With this reform, Sindh has become the first province in Pakistan to effectively enforce mandatory third-party liability motor insurance through a strengthened legal framework.
To support enforcement and improve transparency, the SECP has operationalised the Motor Insurance Repository (MIR), a centralised electronic database that records motor insurance policies issued by the insurers registered with the commission. The system enables digital verification of insurance policies and helps ensure compliance with minimum legal requirements at the time of vehicle registration.
The SECP is also working with the Punjab Provincial Transport Authority to link the vehicle route permit regime with the Motor Insurance Repository for online validation of insurance policies, further strengthening enforcement mechanisms nationwide.
Business
Intellia Therapeutics says its Crispr-based treatment succeeds in pivotal trial
Intellia Therapeutics, building exterior and company sign, Cambridge, Massachusetts, USA.
Spencer Grant | Universal Images Group | Getty Images
Intellia Therapeutics said its Crispr-based treatment for a rare swelling condition met its goals in a late-stage trial, marking a milestone for the field of gene editing and putting the company on track to seek approval from the U.S. Food and Drug Administration.
The company’s treatment uses Nobel Prize-winning technology Crispr to edit DNA and turn off the gene that controls production of a peptide that’s overactive in people with hereditary angioedema, causing them to experience potentially life-threatening swelling attacks. Intellia’s treatment is administered once through an hourslong infusion, making the edits directly in the liver.
Intellia said the one-time treatment reduced attacks by 87% compared with a placebo, meeting the study’s main goal. Six months after treatment, 62% of patients were free from attacks and weren’t using other therapies, Intellia said.
The company described the safety and tolerability of the treatment as “favorable,” reporting the most common side effects were infusion-related reactions, headaches and fatigue. Analysts were closely watching safety in the trial since a patient in a separate trial of a different treatment from Intellia died. That patient developed a liver injury and ultimately died from septic shock following an ulcer, according to the company.
“When you think about where we started with Crispr, just 12 years ago with some of the fundamental insights, I think there was a lot of talk about what might be possible, and we’ve had reports along the way in terms of milestones, but this is the first Phase 3 data in any indication with in vivo Crispr where you’re actually changing a gene that causes disease,” said Intellia CEO John Leonard.
The only FDA-approved Crispr-based medicine comes from Vertex Pharmaceuticals. Called Casgevy, the gene editing is done outside the body, or ex vivo. The process requires collecting a person’s blood cells, making the edits outside the body, then reinfusing them back into a patient. Intellia’s treatment, meanwhile, makes the edits inside the body, or in vivo.
Intellia said it has started a rolling application with the FDA and plans to complete the filing in the second half of this year. The company expects to launch the treatment in the U.S. in the first half of next year, if it’s approved.
If approved, Intellia’s treatment, lonvoguran ziclumeran, will compete with about a dozen other chronic drugs for HAE. Despite the allure of a one-time treatment, genetic medicines haven’t always been a commercial successes. BioMarin withdrew its gene therapy for Hemophilia A because of weak sales, for example.
Leonard said there are important differences between the two, like the fact that BioMarin’s therapy faced questions about how long the effects would last. In contrast, he said Intellia hasn’t seen a single case in almost six years where the effects diminished over time.
Despite the results, he’s reluctant to call Intellia’s treatment a functional cure.
“I think this is a tipping point for the disease and tipping point for Crispr-based in vivo therapy where you can make a change [and] it’s permanent,” Leonard said. “And, as far as we can tell, we don’t have a single patient in this program or other program where there’s been any waning of the effect of what we did to the gene or the effect of what we’ve seen with the clinical aspects of the disease itself. So it’s pretty exciting.”
Clarification: This story has been updated to clarify that a patient in a separate trial of a different treatment from Intellia developed acute liver injury and ultimately died from septic shock following an ulcer.
Business
European flight prices are falling in short-term, Wizz Air boss says
While many airlines say they are raising prices due to high fuel costs, József Váradi says European airlines are trying to boost demand
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Business
Claire’s closes all 154 stores in UK and Ireland with loss of 1,300 jobs
All of the chain’s standalone stores have stopped trading in the UK and Ireland.
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