7th September 2022, Kathmandu
Insurance companies are instructed to carry out risk assessments and claim payments per the law.
The insurance committee has instructed the insurers to carry out the risk assessment and claim payment per the law. The committee issued a notification on Wednesday and asked them to follow the instructions issued by them.
According to the committee, it has been mentioned that insurance documents are issued and insurance claims are paid based on the business documents submitted by various individuals, groups, and organizations related to the insurance business.
Insurers have been requested to be aware that this will harm the insurance business and that the insured and beneficiaries will suffer. The committee said that in addition to the decrease in public confidence in the insurance sector, there is also a situation in the branch of the insurance sector.
The committee has been instructed to make necessary arrangements to prevent these types of wrongful activities and to make the risk assessment and claim payment process of the insurance policy compliant with the law.