Section 150: Insured Insurance Protections Fund

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1) There shall be one Insured Interest Protection Fund formed under the Authority.

2) The following amounts shall be credited to the Fund:

(a) The amount earmarked by the Authority for this purpose,

(b) The amount received from the insurer operating life insurance business as prescribed by the Authority,

(c) The amount deposited in unclaimed fund as per Section 125 which was to be paid under life insurance policy but could not be paid for any reason.

3) Other provisions concerning following the fund shall be as prescribed.

Tagged:
insurance act
nepal law

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