Under the Insurance Act 2079, insurers are legally required to assess and settle valid claims within 30 days once all complete documentation is submitted.

Yes, you can file a formal appeal or complaint with the Nepal Insurance Authority. Recent amendments have introduced "Conciliation" as a mandatory first step for dispute resolution.

Life insurance covers whole-life or term-life risks, while Non-Life insurance covers property, motor, marine, aviation, and engineering risks.

Yes, the Motor Vehicles and Transport Management Act makes third-party liability insurance compulsory for all vehicle owners to protect against public injury or property damage.

Foreign insurance companies can operate by establishing a branch office or a subsidiary through a Joint Venture with local partners, subject to NIA approval.

If an insurer or policyholder provides false or incomplete information violating Good Faith, the contract can be declared void, and claims may be rejected.

Yes, unclaimed amounts where the claimant cannot be reached must be deposited into the Unclaimed Fund or the Insured's Interest Protection Fund for safety.

Yes, but they must first be enlisted with the Nepal Insurance Authority and meet specific financial and reputation criteria.

Micro-insurance is specifically designed to provide affordable protection for low-income and deprived sectors, often focused on agriculture or small-scale health needs.

Yes for claims, legal counsel is essential for complex disputes, large-scale property losses, or when a claim is unfairly delayed or rejected.