November 6: Non-life insurance companies have agreed to settle the insurance claims for coronavirus within two weeks amid complaints from the claimants that they are not receiving compensation.

The government and the Insurance Board on Tuesday had directed insurance companies to settle the claims within a week of receiving all documents.

However, due to the practical difficulties, the insurance companies are preparing to settle the claims within two weeks. According to a source, there has been preliminary agreement between the Insurance Board and insurance companies in this regard.

A discussion was held between Chief Executive Officers (CEO) of the Insurance Board and insurance companies on Wednesday.

CEO of NLG Insurance Sunil Ballav Pant stated that they are making effort to complete the process within 10 to 12 days.

“There are lots of pending applications. On top of that, the documents received should be verified,” he said, adding, “So it is practically difficult to pay the claim in time. However, the processes are being done so that the claim can be paid within two weeks.”

He further said that in some cases, the PCR report is also likely to be fake and therefore the documents should be properly verified.

Moreover, he said that some people are found to have taken the compensation twice.

“Those who have been insured are trying to cheat regarding the coronavirus insurance. Therefore, it needs to be strictly regulated,” he said.