Clear COVID-19 Insurance Payments: FM Paudel

Kathmandu, Nov. 4: Finance Minister Bishnu Prasad Paudel has directed the Nepal Insurance Board and insurance companies to make the payment of the coronavirus insurance claim at the earliest.

He asked the stakeholders, including the NIB and Nepal Insurers Association, professional association of insurance companies in the country, to make haste in paying the money to the insured in a meeting at his office at the Ministry of Finance on Tuesday.

The meeting has decided to clear the payment of the insurance applicants within a week. It has also decided that the NIB would monitor the insurance market and submit daily report of the payment to the MoF.

The NIB will also launch a Help Desk with a hotline telephone to direct the insurance companies to address the grievances of the customers. The meeting was attended by secretary duo of the MoF Shishir Kumar Dhungana, Ram Sharan Pudashaini, NIB chair Chiranjibi Chapagain and President of the NIA Dip Prakash Pandey.

The insurance companies have received about 13,353 claims for coronavirus insurance but only 1,441 were settled. About Rs. 1.28 billion is needed to settle the total demand the companies have received.

The Rising Nepal

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