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Highlighted below are the example events resulting in significant losses, demonstrating the need for business insurance.

Tasman Spirit 2003

The Maltese tanker TASMAN SPIRIT ran aground at the entrance to Karachi Port, Pakistan, in the early hours of July 27th, 2003. The vessel was carrying 67,800 tonnes of Iranian Light crude oil destined for the national refinery in Karachi, out of which 27,000 tonnes were spilled into the sea.

Karachi Airport attack 2014

On June 9th, 2014, 10 militants wearing Pakistan Security Forces uniforms stormed the cargo terminal at Jinnah International Airport in Karachi. 23 people, including the militants, were killed in the incident. Losses were reported in Marine Cargo, Property, and Terrorism classes of insurance.

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PIA Flight 8303 2020

PIA Flight 8303 from Lahore to Karachi crashed 3 kilometers away from the runway at Karachi. 97 passengers, including the crew, were killed, with two passengers surviving the crash. The aircraft was insured for US$19.7 million.

A Packages Factory Fire 2022

A packages factory in Kasur caught fire on February 9, 2022, and took more than 24 hours to extinguish.