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Insurers stop issuing farm insurance policies after govt fails to settle dues for premium subsidies
March 26, 2024 09:30 am
KATHMANDU, March 26: At a time when the government has been announcing its plans to prioritize farm insurance through the budget for the next fiscal year, the insurers have stopped selling farm insurance policies citing the delay in getting the subsidy that the government has promised to provide them.
NIA mulls blacklisting insurers and concerned agencies found cheating their clients
December 17, 2023 08:30 am
KATHMANDU, Dec 17: Nepal Insurance Authority (NIA) is considering blacklisting insurers and all those concerned if found cheating their customers.
NIA warns of action against 10 insurers failing to submit periodic financial reports
February 2, 2023 20:40 pm
KATHMANDU, Feb 2: The Nepal Insurance Authority (NIA) has cautioned 10 insurers to submit their financial reports on time or face actions.
Cases of surrendering insurance policies on the rise
December 14, 2022 08:00 am
KATHMANDU, Dec 14: More than 6,000 insured individuals surrendered their life insurance policies amounting Rs 1.11 billion during mid-October and mid-November.
IB directs insurance companies to maintain real time transaction data from new fiscal year, companies say not possible
July 11, 2022 06:25 am
KATHMANDU, July 11: The Insurance Board (IB) has directed the Nepali insurance companies to maintain real time transaction data from the next fiscal year.
IB sets two-term limit for board members of insurers
April 3, 2022 18:20 pm
KATHMANDU, April 3: The Insurance Board (IB) has barred the board members of insurance companies from assuming the position for more than two terms.
Raise your capital base or go for merger, IB tells insurers
April 1, 2022 06:30 am
KATHMANDU, April 1: The Insurance Board (IB) has asked the insurers to either increase their capital base or go into a merger if they fail to do so.
Nepali insurers see notable rise in their businesses in Q1 of current FY
October 26, 2021 06:30 am
KATHMANDU, Oct 26: Nepali insurance companies collected insurance premiums worth Rs 47.87 billion in the first three months of the current fiscal year.
Premium collection by insurance companies surges by 25.67 percent in first half of current FY
February 2, 2021 17:44 pm
KATHMANDU, Feb 2: Insurance companies have collected premiums worth Rs 36.61 billion in the first half of the current fiscal year, which is an increment of 25.67 percent to the amount collected during the same period in the last fiscal year.
Forceful merger on the cards for insurers that fail to shore up capital
July 7, 2018 05:35 am
BANEPA, July 7: Beema Samiti -- the insurance sector regulator -- has said that it will direct insurance companies that fail to meet the new paid-up capital requirement within the specified deadline to pursue merger.
Non-life insurers still to settle 25 percent of quake-related claims
March 13, 2017 00:00 am
KATHMANDU, March 13: Non-life insurance companies are yet to settle 24 percent of the claims arising out of the 2015 earthquakes.
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