Kathmandu. The Insurance Authority (NEA) has directed the non-life insurance companies, micro non-life insurance companies and reinsurance companies to speed up the payment of insurance claims for the losses incurred during the agitation.

NEA Managing Director Sushil Dev Subedi urged the insurers to provide relief to the insured as soon as possible as the insurance claim for the loss suffered during the agitation was payable. “The insurer should pay the claim on the basis of the preliminary survey report, the insured should feel that the insured has received the money, and should publicly inform about the claim payment,” he said. ’

Subedi assured the insurance companies that the NEA would provide necessary facilitation to the insurance companies in case of legal or practical problems while paying the insurance claims. He also warned that the insurers should submit the correct data and take strict action if they give wrong data.

He also directed the reinsurance companies to give high priority to liquidity and provide liquidity to the market immediately. “The insurer should provide the advance amount to the insured and the reinsurer should provide the advance amount to the insurer on time,” he said.

The chief executive officers of the non-life and micro non-life insurance companies said that they were ready to pay the insurance claims for the losses incurred during the agitation. They said that the payment of small claims has already started and the active support of the reinsurance company is necessary as cash flow is required for the big claims.

The insurers said that they have started collecting the report of the damage by deploying insurance surveyors in the field and the surveyor report is in the process of coming.

On the occasion, CEO of Nepal Reinsurance Company said that the company was capable of paying the claim amount and assured that the amount would be made available to the insurers soon after completing the necessary process.