26th March 2025, Kathmandu
Sagarmatha Lumbini Insurance Company Limited (SALICO) and the Seti Mahakali Truck Transport Entrepreneurs Association have signed an important insurance agreement. This partnership ensures that all trucks registered with the association will now receive motor insurance coverage from SALICO.
SALICO Motor Insurance Agreement
Key Terms of the Agreement
The new Memorandum of Understanding (MoU) outlines that SALIKO will offer comprehensive motor insurance to all trucks under the association. Additionally, the deal promises faster claim settlements for accidents or damages.
The signing ceremony included key officials from both parties. Kabiraj Poudel, Deputy General Manager of SALICO, signed the agreement on behalf of the company. Mohan Singh Saud, Chairman of the Seti Mahakali Truck Transport Entrepreneurs Association, represented the association during the event.
Simplified Claim Process
One of the key features of the agreement is the streamlined insurance claim process. In case of any claims, SALICO promises to settle them quickly and without hassle. This will help minimize disruptions for transport businesses, allowing them to continue operations smoothly.
Ceremony Attendees
The signing ceremony was attended by several dignitaries, including:
Dharmaraj Badu, Provincial Chief of SALICO Insurance
Hemant Lamichhane, Branch Chief of SALICO
Executive members of the Seti Mahakali Truck Transport Entrepreneurs Association
Various transport entrepreneurs and stakeholders
Benefits for Transport Entrepreneurs
This partnership brings multiple benefits to the truck operators within the association. These benefits include:
Comprehensive Coverage: All registered trucks will now be protected under an extensive insurance plan.
Faster Claims: The simplified claim process ensures quicker settlements, easing the financial burden on transport businesses.
Trusted Provider: SALIKO’s reputation as a reliable insurance provider adds security for truck owners.
Statements from Key Officials
Kaviraj Poudel, Deputy General Manager of SALICO, shared, “This agreement demonstrates our commitment to supporting the transport sector in Nepal with accessible and efficient insurance solutions.”
Mohan Singh Saud, Chairman of the association, remarked, “Our members can now enjoy peace of mind, knowing their vehicles are insured by a trusted provider with a quick claims process.”
Future Prospects
This agreement marks an important milestone in strengthening the relationship between the transport and insurance sectors. It sets a strong example for future collaborations that could enhance financial security for commercial vehicle operators across Nepal.
Conclusion
The partnership between SALICO and the Seti Mahakali Truck Transport Entrepreneurs Association is set to benefit the transport sector in the long run. With better risk management and quicker claims, truck owners will have greater financial stability. Both parties are optimistic about future cooperation and hope to improve services for the industry.
For more: SALICO Motor Insurance Agreement