Kathmandu. KATHMANDU: The Nepal Insurance Authority (NEA) has held discussions with the representatives of Nepal Insurance Association, Life Insurance Association, Nepal and Reinsurance Company to implement the provisions related to insurance brought by the government through the budget for the coming fiscal year.
A discussion program has been organized at the NRA on Monday (June 29) regarding how the provisions related to insurance in the budget for the fiscal year 2083/84 can be implemented at the earliest.
In the budget for the fiscal year 2083/84, the government has demanded that at least 20 percent of the insurance policy issued by the Nepali insurance company should be provided by Nepal Reinsurance Company, the group insurance fund of long-term nature would be led and operated by the Nepal Reinsurance Company, a certain portion of the reinsurance should be shared with the foreign reinsurance company to reduce the risk. The bill proposes to provide insurance for accidents, including accidents, fatal diseases, transportation and other insurance policies to reduce road accidents.
On the occasion, it was believed that the provisions related to insurance made by the government in the budget would be important for the development and expansion of the overall insurance sector.
On the occasion, Executive Director of Nepal Insurance Authority Sushil Dev Subedi said that the NEA would prepare and issue necessary directives as soon as possible for the implementation of the provisions related to insurance in the budget.
On the occasion, Nepal Insurance Association, Life Insurance Association, Nepal’s office-bearers and representatives of reinsurance companies expressed their commitment to implement the insurance provisions made in the budget by the government with the directive, facilitation and support of the NEA.
