The Nepalese insurance regulator the Nepal Insurance Authority has commenced the publication of the industry's data and other statistics on a monthly basis.
Nepal insurance industry has still to do a lot to make insurance easy, affordable and above all trustworthy for all according to Nepal Insurance Authority (NIA) executive director Sushil Dev Subedi.
The Nepalese government has set a target to increase the renewal of health insurance policies to 90% in the next five years to 2030.
A high-level economic reforms committee formed by the Nepalese government has suggested that the insurance premium should be determined by the market in a competitive manner.
Having already issued and distributed an initial public offering (IPO) to Nepali citizens working overseas, Nepal Micro Insurance will be opening it the general public from 23 February 2025, according to Nepalese newspaper Republica.
Nepalese prime minister KP Sharma Oli has asked the ministry of health and population to formulate on priority an action plan for reforms based on the report of the Health Insurance Reform Suggestion Task Force.
Nepal's Health Insurance Reform Suggestion Task Force has recommended that the government employees and the employees working in the private organised sector pay 1% of their annual salary to the health insurance fund and an equal amount is paid by the employer.
Nepalese people affected by the devastating floods and consequential landslides that followed incessant rains in the country on 26 September 2024 have filed insurance claims worth NPR12.87bn for damages caused by the natural catastrophic events.
Nepal Insurance Authority (NIA) plans to tighten the procedure for purchase and construction of real estate for office purposes by insurance companies. The Authority recently released the draft regulation 'Insurance Company's Fixed Asset Purchase Directive, 2081 BS for public feedback and suggestions.
UIB Group, one of the world's largest privately-owned independent international insurance and reinsurance brokers, has achieved a major milestone in its Asian growth strategy with the official opening of a new representative office in Kathmandu, the capital of Nepal.