December 04, 2001
KATHMANDU: Insurance companies Monday re-considered their decision not to provide coverage to clients against acts of terrorism and sabotage. Fourteen members of the Nepal Insurers’ Association issued a public notice in newspapers Tuesday announcing the reinstatement of ante quo status.
Clients protested the sudden decision of the insurers following the resurgence of Maoist violence targeting industries as well. But premium rates have been increased.
Earlier, Rashtriya Beema Sansthan at the request of Finance Minister Dr.Ram Sharan Mahat decided to provide insurance coverage against losses incurred by acts of terrorism and sabotage.