Kathmandu. In the year 2082, the Nepal Insurance Authority (NEA) has issued various directives for the improvement of the insurance sector, amended and revised. <\/p>\n
This year, the authority has issued necessary directives for the renewal of the license of insurance surveyors. The license of an insurance surveyor who does not submit an application for renewal within 3 months of the expiry of the deadline will be canceled. <\/p>\n
This year, as per the decision of the government, the authority removed the provision of using postal stamp in the insurance service. The authority has also issued necessary directives regarding the renewal of the license of insurance agents. <\/p>\n
The authority has issued a directive to make the claim payment and remuneration payment from the insurer transparent. The authority has set clear criteria regarding the loan to be provided in the security of the insurance policy. <\/p>\n
This year, the authority has withdrawn from the restriction imposed on the issuance of life insurance policies. Last year, the authority had introduced a provision for life insurance agents to be completed within the 28th of every month while setting the target, providing incentives and issuance of the scheme. However, the NRA later issued another notice on July 24, 2082 and removed this provision saying that it was cumbersome. <\/p>\n
This year, the authority has also issued an important awareness message to stop frauds related to travel and medical insurance. <\/p>\n
Guidelines and revisions to directories <\/strong><\/span><\/p>\n The Insurance Authority has made the second amendment to the directive related to the establishment and operation of the Foreign Employment Temporary Life Insurance Group Insurance Pool, 2081 BS. Similarly, the second amendment to the Insurer’s Reinsurance Directive, 2080, the Guidance on Airmark of Fixed Deposit Investment by the Insurer, the First Amendment in 2081, the Directive on Institutional Good Governance of the Insurer, the Second Amendment Directive in 2081, the Directive on the Foreign Exchange Recommendation of the Insurer, 2082, the Directive on Investment of the Insurer, 2082 Issued, the Directive on the Prohibition of Financial Investment in Money Laundering, Terrorist Activities and Weapons of Mass Destruction, 2082 Issued, The first amendment to the Insurer’s Reinsurance Directive, 2080 and the Risk Based Capital and Solvency Directive, 2025 have been issued. <\/p>\n Similarly, in the same year, NEA has issued Guidelines for Valuation of Asset Using Mark to Model Approach, Guideline Related to Actuary Appointment of Insurer, First Amendment and Guidelines on Target Financial Section for Insurer, 2025.<\/p>\n","protected":false},"excerpt":{"rendered":" Kathmandu. In the year 2082, the Nepal Insurance Authority (NEA) has issued various directives for the improvement of the insurance sector, amended and revised. This year, the authority has issued necessary directives for the renewal of the license of insurance surveyors. The license of an insurance surveyor who does not submit an application for renewal […]<\/p>\n","protected":false},"author":16,"featured_media":245582,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[45031,45159,45099],"tags":[],"class_list":["post-295158","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-banner-news-en","category-news-en","category-regulatory-en"],"acf":[],"_links":{"self":[{"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/posts\/295158","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/users\/16"}],"replies":[{"embeddable":true,"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/comments?post=295158"}],"version-history":[{"count":1,"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/posts\/295158\/revisions"}],"predecessor-version":[{"id":295159,"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/posts\/295158\/revisions\/295159"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/media\/245582"}],"wp:attachment":[{"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/media?parent=295158"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/categories?post=295158"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/tags?post=295158"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}