Kathmandu. The Insurance Authority of Nepal (BEE) has directed all licensed insurance companies to update the required details on their websites.
The Property Laundering Prevention Section of NEA has issued a directive through letter number 53 challan number 3971 dated January 9, 2018 directing the insurer to publish updated details including details of the insurer’s branch network and office heads.
The letter directs to update the following details on the website to make it publicly available in accordance with Section 35C of the Prevention of Money Laundering Act, 2064:
1. Clear address of the insurer’s central office, provincial office, branch and sub-branch office and details of the concerned office.
2. Date of registration and license number of the insurer.
3. A brief introduction to the legal form and scope of work.
4. Regulatory bodies and laws related to regulation (Insurance Act, Insurance Regulations, all directives and guidelines issued by the Authority).
5. Name of the Member of the Board of Directors of the Insurer.
6. Details of the identity of the office bearers of other committees of the insured.
7. Details prescribed by any other law to be made public.
