Kathmandu. The Nepal Insurance Authority (NIA) has directed the insurers to work in such a way that the general public will be assured that they will get the insurance claims.
The directive was issued by NEA Managing Director Sushil Dev Subedi during a discussion with the chief executive officers of the non-life insurance companies and reinsurance companies at the central office of the NRA today. He directed the insurers to work in such a way that the general public is assured that they will get the insurance claim after the insurance and to collect data related to insurance claims and to facilitate in the payment of claims and to inform the public publicly.
Subedi urged the CEOs of the insurers and re-insurers to give their opinion within 3 days as the NRA can formulate a brief work procedure related to insurance claim payment as per the provision made in the Insurance Regulations, 2081 BS to make the payment of insurance claim for the damage caused by the current non-natural disaster simple and easy.
Executive Director Subedi also directed the insurers to inform the insured as soon as possible about the damage caused to the physical and other property insured by them and take initiative to forward the claim payment process.
The NEA held discussion with the chief executive officers of the non-life insurance companies and reinsurance companies regarding the impact of physical and other losses in the insurance sector during the agitation. On the occasion, chief executive officers of the non-life insurance companies said that the insurer can immediately pay a small claim amount for the physical and other damages sustained during the agitation while the reinsurer should pay the amount in advance in the case of insurance claim payment above that and the reinsurer should facilitate in liquidity management. They said that the survey report could not be obtained due to special circumstances regarding the payment of the insurance claim of the completely damaged physical property during the agitation and it would be difficult to get recommendation as the ward office and police offices were damaged.
Similarly, CEO of the reinsurance company said that the data should be reliable while proposing for reinsurance by the insurer and that the reinsurer is ready to provide support in terms of claim payment.
NEA Director Nirmal Adhikari, Director Shambha Raj Lamichhane and Chief Executive Officers of the non-life insurance company and Reinsurance Company were present on the occasion.
Similarly, the Insurance Authority (NEA) today held discussion with Insurance Surveyors Association of Nepal regarding the role of insurance surveyors in making insurance claim payment prompt during the current non-natural disaster.
During the discussion, the office-bearers of the Insurance Surveyors Association expressed the view that the surveyors should be given proportional work, insurance surveyors should be easily allowed to enter the damaged areas and the surveyors should be made more responsible.
On the occasion, NEA Executive Director Subedi said that the authority was preparing to implement brief work procedure as per the provision made in the Insurance Regulations-2081 BS for the payment of claims during the time of serious disaster.
Executive Director Subedi clarified that the insurance surveyor can work smoothly in the current situation on the basis of the license he has obtained.
The program was attended by Director of Insurance Authority Pujan Dhungel Adhikari, Director Nirmal Adhikari, Director Shambha Raj Lamichhane and office bearers of Insurance Surveyors Association of Nepal.
