Kathmandu: Nepal Insurance Authority has encouraged insurers to conduct insurance awareness campaigns for the ultra-poor and marginalized community. The Authority has paved way for the insurers to make investments in insurance awareness activities under their corporate social responsibilities (CSR).
The Corporate Governance Directives 2075(fourth amendment) issued by the Authority has made it mandatory to allocate at least 1 percent of the net profit for CSR funds. The Directives also allow insurers to include their cost against the education insurance and health insurance services provided to the marginalized and ultra-poor community.
The insurers can also conduct income generation, insurance awareness, and consumer protection programs for the ultra-poor and marginalized communities. Further, the insurers can also run child daycare centers at their office premise under the CSR budget.