Stories Tagged 'Insurance board'
The Insurance Board unveiled an array of incentives to encourage mergers among insurance companies after several failed attempts to get them to increase their paid-up capital.
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The Insurance Board issued a new investment directive on Wednesday allowing insurance companies to invest in real estate and stocks. Insurers can put up to 5 percent of their technical reserves in land and buildings.
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The Insurance Board is slashing the insurance premium for residential houses worth up to Rs10 million to 0.04 percent. From January 15, a homeowner will have to pay Rs4,000 for a Rs10 million insurance policy. Currently, the premium is 0.139 percent.
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The Insurance Board (IB), in a bid to attract more house owners to purchase insurance policies for their assets, is working to revise threshold and premium rates on household insurance.
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Only four out of the 38 insurance companies in Nepal have increased their paid-up capital as ordered by the Insurance Board (IB), and the rest look like missing an extended deadline with only two and a half months remaining before it expires.
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The Insurance Board (IB) has moved to conduct regular onsite inspections of insurance companies, targeting to streamline the working processes of insurers more effectively.
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