Kathmandu: The promoters of proposed new micro-insurance companies are in dilemma amid a lack of guidelines for micro-insurance business. The Nepal Insurance Authority is all set to issue licenses to seven micro-insurance companies. It has already set a deadline for the promoters of proposed insurance companies to arrange paid-up capital to obtain a letter of intent.
The proposed companies have been asked to arrange capital and submit their progress report by 15 Chaitra 2079. The Authority had short-listed seven companies named Guardian Micro Life Insurance, Crest Micro Life Insurance, Liberty Micro Life Insurance, Trust Micro Insurance Company, Nepal Micro Insurance Company, Star Micro Insurance Company, and Protective Micro Insurance company.
Although the authority issued the license of the micro-insurance company last Bhadra, it has not yet issued the guidelines for the micro-insurance business.
