Parsa. Nepal Insurance Authority (NEA) Madhes Province Office has collected Rs 2.15 billion in non-life insurance premium in the nine months of the current fiscal year. In the same period, the number of non-life insurance policies was 259,475.
A total of 7,124 non-life insurance companies have demanded rs 1.60 billion in claim payment. However, the office said it had paid Rs 1.08 billion claims to 5,585 of them.
Nepal Insurance Authority Madhes Province Office Chief Preeti Dev complained that the attraction of the general public towards insurance has not increased relatively due to lack of adequate public awareness in madhes province. “We have been running insurance-related literacy campaigns,” he said, adding, “We are hopeful that the reach of insurance will increase in the coming days.” ’
The office has collected Rs 11.16 billion as life insurance fees in the nine months of the current fiscal year. During this period, there were 86,670 life insurance policies in Madhes province. Madhes province has a share of 9.24 percent in the collection of life insurance fees. As of Mid-April, the number of claim payments for life insurance has increased from 17,268 to Rs 2.54 billion.
In the last fiscal year, the office had paid Rs 2.87 billion from the number of 21,904 claim payments for life insurance.
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