The government has constituted a committee to determine the capital structure, modality and operating procedure of the Insurance Pool, according to media reports.
The committee will also figure out the possibility of the Pool's viability as a reinsurer in the long run, chairman of Beema Samiti (Insurance Board) Dr Phatta Bahadur KC, was quoted as saying.
The Insurance Pool has been conceptualized in light of the September 11 terrorist attack in US apart from frequent strikes and bandh back in the country.
The committee, which will present its report in a month, has been formed under a joint secretary at the Finance Ministry to finalise the capital structure and its modus operandi.
The Pool was established with Rs 50 million seed money from the government and Rs 50 million from the insurance agency. It currently boasts of over Rs 1 billion in cash funds.
If the Pool can be developed as a reinsure, it can well attract foreign businesses as well in the country. nepalnews.com
http://www.nepalnews.com/archive/2011/jan/jan10/news04.php
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