Kathmandu. The Auditor General’s 59th annual report has pointed out Governments liabilities over Covid19 insured in Fiscal Year 2077/78.
The report submitted to President Bidhya Devi Bhandari by the Auditor General mentions that under the Covid19 Insurance Standard 2077, the Government has yet to pay over Rs. 6.16 billion 37 thousand 1 insured.
Under the Covid19 Insurance Standard, Nepal Reinsurance Company, all 20 non-life insurance companies and the Insurance Board have already paid the claim according to their liabilities. But the Government is reluctant to release fund to fulfill its financial obligations towards the insured.
In the 59th Annual Report of the Auditor General, In 77.78, it is mentioned that the amount of insurance claims of 1 lakh 14 thousand 633 people was Rs. 10 billion 97 crore 73 lakh. Out of that, a total of 4 billion 81 crore 11 lakh rupees has been paid.
Since the government has been refusing to pay the amount of its liability for a long time, the credibility of the non-life insurance company has deteriorated due to the inability to pay the claim of Covid19 Insurance.