Insurance claims through counterfeit documents on the rise: IB

Published On: November 10, 2021 07:45 AM NPT By: Republica  | @RepublicaNepal

KATHMANDU, Nov 10: The Insurance Board (IB) has expressed its concern over the rising cases of insurance claims based on bogus documents.  

Issuing a public notice, the regulator of the country’s insurance businesses has said it has been receiving complaints in increasing numbers against the fraudulent cases of insurance claims. The IB has cautioned the authorities concerned to scrutinize the related documents properly while forwarding them for the insurance claims.

According to IB, such deceptive activities could adversely affect the insured and beneficiaries along with eroding the people’s faith in the entire insurance sector. “If any insurer, staffer of insurance companies, insurance agents and surveyors, among others, are found guilty, they will face stringent action as per the existing laws,” states the IB in its notice.  


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