Section 82: Provisions related to re-insurance contracts

1) While undertaking the re-insurance business, the re-insurance company shall approve the format of its re-insurance contract from the Nepal Insurance Authority.

2) The Nepal Insurance Authority may, at any time, give directions to review the terms and conditions mentioned in the re-insurance contract if it has reasons to believe that the contract made between the insurance company and the re-insurance company is against the interest of the insured or such contract do not cover the risks completely

3) Other provisions related to re-insurance contracts shall be as prescribed.