Kathmandu. Asian Life Insurance has paid the claims of four of the five insurance companies after the Insurance Khabar brought to light that it has not paid the claims of five insurance companies for a long time.
Even after agreeing with the insured parties for mediation, Chief Executive Shrestha had harassed them even more by not paying the claim. The agreement included insurance claims ranging from lakhs to crores of rupees.
Dinesh Lal Shrestha, the chief executive officer (CEO) of Nepal Insurance Authority (NEA), has not initiated the process of payment of the amount after agreeing with the insured to pay the claim.
The insured parties were compelled to approach the Authority for daily consultation as they could not be paid the claim amount even after the agreement reached mediation.
Asian Life CEO set to seek clarification after insured did not receive claim payment for months
When the claims department of Asian Life sought information about the progress of the claim on behalf of the authority, an attempt was made to evade it saying that the CEO was on leave, out of the country, and the investigation was underway.
The Insurance Khabar reported on Saturday that the NEA is preparing to seek a written explanation from the Chief Executive Officer (CEO) after receiving complaints from all sides about causing unnecessary trouble to the insured.
Within two days of the publication of the news, the insurance company has settled the claim payment of four out of five claims on Monday. The Asian Life has sought more time from the Authority to investigate the remaining one claim as it has been found that the insured side has made claims from time to time.
Paying the death claim only after the complaint of the insured, the mediation of the authority and constant pressure will have a negative impact not only on the case of Asian Life but also on the credibility of the entire life insurance company.
