Insurance Board warns Non-Life Insurers to comply with the Live Stock Insurance Guidelines

Kathmandu: The Insurance Board has decided not to provide the grant to the companies that do not comply with the standards of agriculture and livestock insurance. The IB has warned all non-life insurance companies to follow the rules as per the Agriculture and Livestock Insurance Directive 2077.

The IB has issued a circular to all non-life insurance companies on Thursday directing them to deploy the required number of agricultural technicians. Rajuraman Poudel, executive director of the IB, said that most of the insurance companies have not complied with the guidelines.

While the IB was conducting public awareness program on insurance at the local bodies, the farmers had complained that they could not get insurance due to lack of agricultural technicians. During the inspection, it was found that the insured were facing problems due to insufficient number of agricultural technicians, agricultural and livestock insurance agents and damage valuator.

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