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Zenji agitation: NEA issues three-point directive to reinsurance, non-life and micro non-life insurance companies

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Kathmandu. KATHMANDU: Nepal Insurance Authority (NEA) has issued a three-point directive to re-insurers, non-life and micro life insurers.

The NRA has directed the government to immediately deploy a surveyor of the damaged property and make arrangements for payment of claim by ascertaining the damages.

On the basis of the preliminary assessment report of the damage, the government has been directed to pay the maximum amount of 50 percent of the estimated liability for the insurance as soon as possible.

The authority has directed the insured to make arrangements to provide a maximum of fifty percent of the estimated reinsurance liability as advance payment as soon as possible in case the insurer demands money from the concerned reinsurance company for paying the claim.

The directive was issued to implement the decision of the Council of Ministers on September 23 to provide relief, tax exemption, concessions and facilities to the industries, trade, business establishments and economic activities affected by the Jenji agitation.

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