Nepal, July 3 -- The Nepal Insurance Authority (NIA) has cautioned insurance companies not to impose excessive burden on the claimants by dillydallying during the claim settlement process. The regulatory body issued the warning after receiving complaints that many entities were found being involved in such misconduct.

Issuing a public notice on Tuesday, the NIA said it has been receiving a notable number of complaints against the insurers of late. The grievances include delay in fixation of liabilities, imposing excessive liabilities on behalf of the insured and delay in deployment of surveyors while the appointed surveyors are also accused of dillydallying in submitting evaluation reports. Similarly, insurers are found asking the insure...