Insurance Committee stopped loan facility to the agent; Instructs insurance companies to withdraw the given amount
Kathmandu, April 18
The Insurance Committee has stopped the loan facility being given to the agents by the life insurance companies.
The Insurance Committee has passed a statement to all life insurance companies instructing them to immediately stop lending money to insurance agents. There are currently 19 life insurance companies in operation.
In the letter signed by the Deputy Director of the Insurance Committee, Dhurva Timalsina, while analyzing the loan and loan details of the agent, it is stated that the Insurance Committee has drawn serious attention to the flow of loans and borrowings mentioned in various headings. It has been instructed in the letter to stop this work immediately and collect the invested loan within three months.
According to an Insurance Committee source, Life insurance companies have invested more than Rs. 8 arba in loans to agents.