NIA starting to Inspection Newly Issued Micro Insurance Office   

Kathmandu, New license received micro insurance company had been starting to inspection by the Nepal Insurance Authority (NIA) for further process to start micro insurance company.

Now having the preparations to conduct micro insurance business, NIA starting to inspection from regulatory process. Micro insurance company compulsory to regulation completed or not full of criteria issues of study had to supervision.

Under the observation criteria meet up, completed is or not, ordered to supervision to employee by authority on the spot, claimed the supervision department.

After the inspection NIA report will provide permission to start the micro insurance business. Authority will checked office, appropriate of software, Human resources and infrastructure.

Being a fixed foundation part meeting of the executive board committee’s should being managing their meeting room. Central office’s information and technology office backup of procurement, also location.

Authority’s providing the direction and issues the license to deal necessary pre-preparation for Guardian Micro Life Insurance, Nepal Micro Insurance, Chrest Micro Life Insurance and Protective Micro Insurance Company.

Nepal Micro situated in chitawan bharatpur, Guardian Micros situated in biratnagar, Chrest Micro situated in Birendranagar Surkhet and Protective Micro situated in Dhangadi their central office.
Authority had given permission to 7 insurance company since 27 November 2022.

Authority office provided direction to in account 75 million thousand rupees to those company. According to authority office 4 insurance company. Guardian Micro Life Insurance company, Chrest Micro Life Insurance Company, Nepal Micro Insurance Company and, Protected Micro Insurances Company now they have success to an account own capital.