Kathmandu. Nepal Insurance Authority (NEA) has directed all licensed insurers to submit quarterly reports related to internal monitoring and supervision on time. <\/p>\n
Issuing a circular, the regulatory section of the Authority has directed the Authority to submit the report of monitoring and supervision carried out as per Section 11 (1) of the Corporate Good Governance Directive, 2080 BS to the Authority within fifteen (15) days from the date of the end of each quarter. <\/p>\n
In this Section, the Board of Directors of an insurance company has to formulate and implement necessary procedures regarding the compliance of the Act, Regulations, prevailing laws, directives issued by the Authority from time to time, and policies, rules, decisions, directives, manuals, circulars or procedures approved by the Board of Directors. Monitoring and supervision should be carried out in connection with such works at least every three months and an updated record should be kept. <\/p>\n
Clause 11 (2) of the directive states that the monitoring and supervision report should be submitted to the Authority within fifteen (15) days from the date of the end of each quarter. \u00a0After most of the insurers did not submit their reports, the authority issued a circular reminding the insurers.<\/p>\n","protected":false},"excerpt":{"rendered":"
Kathmandu. Nepal Insurance Authority (NEA) has directed all licensed insurers to submit quarterly reports related to internal monitoring and supervision on time. Issuing a circular, the regulatory section of the Authority has directed the Authority to submit the report of monitoring and supervision carried out as per Section 11 (1) of the Corporate Good Governance […]<\/p>\n","protected":false},"author":5,"featured_media":306091,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[45031,45159,45099],"tags":[],"class_list":["post-306093","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-banner-news-en","category-news-en","category-regulatory-en"],"acf":[],"_links":{"self":[{"href":"https:\/\/insurancekhabar.com\/ikbrapi\/wp\/v2\/posts\/306093","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/insurancekhabar.com\/ikbrapi\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/insurancekhabar.com\/ikbrapi\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/insurancekhabar.com\/ikbrapi\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/insurancekhabar.com\/ikbrapi\/wp\/v2\/comments?post=306093"}],"version-history":[{"count":1,"href":"https:\/\/insurancekhabar.com\/ikbrapi\/wp\/v2\/posts\/306093\/revisions"}],"predecessor-version":[{"id":306094,"href":"https:\/\/insurancekhabar.com\/ikbrapi\/wp\/v2\/posts\/306093\/revisions\/306094"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/insurancekhabar.com\/ikbrapi\/wp\/v2\/media\/306091"}],"wp:attachment":[{"href":"https:\/\/insurancekhabar.com\/ikbrapi\/wp\/v2\/media?parent=306093"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/insurancekhabar.com\/ikbrapi\/wp\/v2\/categories?post=306093"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/insurancekhabar.com\/ikbrapi\/wp\/v2\/tags?post=306093"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}