KATHMANDU, April 25: Non-life insurance companies have stopped settling the claims against the insured farm products after they failed to get premium subsidies from the government.
KATHMANDU, April 9: The government has been reluctant to fulfill its commitment to provide the promised amount of subsidies across several sectors, resulting in a significant accumulation of unpaid dues for the affected businesses.
KATHMANDU, March 26: At a time when the government has been announcing its plans to prioritize farm insurance through the budget for the next fiscal year, the insurers have stopped selling farm insurance policies citing the delay in getting the subsidy that the government has promised to provide them.
The Nepal Insurers' Association (NIA) has asked domestic reinsurers to restore the previous year's reinsurance commission rates, failing which it would stop providing them business under mandatory direct cession.
KATHMANDU, July 27: The Independent Power Producers' Association, Nepal (IPPAN), and the Nepal Insurers' Association (NIA) have reached an agreement regarding hydropower insurance premiums, setting a positive course for the future. The officials at NIA visited the IPPAN Secretariat on Wednesday to discuss the premium dispute, and both parties achieved consensus through fruitful deliberations.