Fiscal Nepal
First Business News Portal in English from Nepal
KATHMANDU: Amid criticism that insurance firms are delaying payment of coronavirus insurance claim, Finance Minister Bishnu Prasad Paudel has directed the Nepal Insurance Board (NIB) and insurance companies to make the payment of the coronavirus insurance claim within one week of the claim.
At a meeting with NIB and Nepal Insurers Association on Tuesday, Minister Poudel directed all insurance firms to settle the COVID insurance claim of people within maximum one week.
Similarly, Poudel also directed NIB to monitor the insurance market and submit daily report of the payment to the the Ministry of Finance.
Meanwhile, chairman of NIB Chiranjeevi Chapagain said that the Board has already instructed insurance firms to make quick payments after the insured persons complained that the companies had not paid their claims for a long time.
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