Kathmandu. Nepal Life Insurance Company (NLIC) has once again taken action against the insurance company. The Nepal Insurance Authority (NEA) has taken action against the companies not working under the Insurance Act.
Nepal Life Insurance Company has been sued for exceeding the limit.
The NEA has imposed a fine of Rs 2 lakh on Pal Life Insurance Company as per the Act. According to the authority, the action was taken after the company did not fully comply with the guidelines and legal provisions related to insurance.
In the past, many companies have been warned about such issues, but have been fined as they have not shown satisfactory improvement.
