Kathmandu. The Nepal Insurance Authority (NEA) has given priority to the specialized micro-insurance scheme to bear special type of risk in the life of the poor and the people living in the rural areas.
The authority is preparing to issue micro business protection micro insurance policy to bear the risk of micro and small investment businesses. The draft of the policy will be finalized and the classified insurance policy will be made public.
According to the authority, a standardized insurance policy and a micro insurance policy that provides compensation in case of closure of business are going to be introduced. Apart from this, the NEA is also going to issue a standardized insurance policy to cover the damage to small construction structures in the rural areas. This will provide relief to the contractor companies and related owners of small but organized construction structures.
The authority has already issued the latest (intermediate zone) insurance policy as a risk-focused insurance policy for wildlife. Apart from this, the NEA has started works on horse insurance and flood insurance under seasonal index insurance, paddy crop insurance and potato insurance policy under the weather index insurance so that all non-life insurance companies can be implemented.
