Three non-life insurance companies face the music


KATHMANDU, JANUARY 2: The Nepal Insurance Authority (NIA) has taken action against three non-life insurance companies. The board meeting of the Authority imposed a cash penalty of Rs 200 thousand each to IGI Prudential Insurance, United Ajod and National Insurance Company.

These companies were found to have engaged in breaching the Insurance Act by selling insurance policies on credit and creating hassles for customers while making claim payments. As they failed to justify such activities, the NEA decided to penalize them.