Lumbini Province Insurance Authority Directed to Stop Cashback

Kathmandu, Lumbini province Insurance Authority has been directed officially to stop cashback package provide by insurance companies, directed to follow up the full of the decision insurance rate. Authority, directed to insurance companies to make the effective managerial and confidence part, directed by province office of chief Purnabahadur thapa.

Specially, Companies has provided cashback package own members. Coming day, keep to cautions before the coming problems. Said, Lumbini Insurance Auhority Chief Thapa. He was given to direction to follow the Its decision. According to follow the systems, along with unfair unhealthy competition from companies, Decision had making agreeable between the chief of participation in Lumbini Province.

Following the discussion with local level interaction program. break up the borrow insurances. Stop to keeping rate and till to cashback action. Lumbini Province stayed any insurance company, Local level conducting the interaction program with ward level, officially its helps to access and extension its insurance program. Thapa add all of each Participation to chiefs, he directed to compulsory submit the report all of representative within 7 days in the Lumbini Insurance Authority office.

And Insurance act 2079 article (64) sub article (2) According to managing the full insurance rate after received insurance. Concluded decision should be follow up he added. It should be fixed the rate of insurance. Various time issues direction decided to follow up decision. Provision manage Insurance Act 2079 article 64 sub-article (1). program was focus on issues of insurance challenges and opportunity of insurance sectors.