Beema Samiti instructs all insurance companies to pull back Corona insurance scheme; intervenes to protect companies from incurring huge burden

Fri, Jun 5, 2020 9:11 AM on Corporate, Latest,

Beema Samiti has instructed all the non-life insurance companies to halt the Corona Insurance scheme from Jestha 23, 2077.

Executive Director of Beema Samiti Mr. Raju Raman Paudel has issued an internal instruction to the insurance companies to bear insurance responsibility for those who have so far received insurance policy and to discontinue the scheme until a further notice.

The insurance sector regulator has made it clear that the insurance companies will face a huge burden in a present situation when the number of Covid positive cases is increasing. It has further outlined that these companies will only be able to provide such a policy when the government guarantees it or there’s a provision of reinsurance, as per the media statement.