Section 38: Insurance Fund

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1) The Insurer shall maintain an insurance fund in the quantity and ratio prescribed by the Nepal Insurance Authority.

2) The Insurer shall maintain separate funds for each category (Portfolio) of the Insurance Business and the amount to be received from each Insurance Business shall be deposited in the concerned fund.

3) The fund maintained for one category (Portfolio) of Insurance Business shall not be deposited or utilised to bear the liabilities relating to another category (Portfolio) of Insurance Business.

Tagged:
insurance act
nepal law

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