Rule 10A
Functions, Duties And Rights Of The Board Of Directors:
10A. Functions, Duties and Rights of the Board of Directors: The
functions, duties and rights of the Board of Directors shall be as follows:
(a) To manage the fund.
(b) To make and cause to be made necessary arrangement and
implementation of reinsurance of the risk group.
(c) To overview the reinsurance arrangement of the risk group.
(d) To make and cause to be made coordination with the insurers to
make arrangement of further security of the risk group in the
future by giving due consideration to the welfare of fund, to make
arrangement of new reinsurance and to renew.
(e) To make and cause to be made payment of reinsurance premium
by collecting the necessary reinsurance statement and insurance
premium of the risk group from the member insurers.
(f) To appoint the surveyors recognized by the Insurance Committee
for the procedure of clearance of claims made at the Fund or to
prescribe the criteria regarding the surveyors to be appointed by
the member insurers for the same purpose.
(g) To implement by preparing a Directory relating to the procedure
of clearance of claim under these Rules.
(h) To implement by preparing a Directory of Management of
Insurance, Reinsurance relating to the “Risk Group” for the
members insurers and to make coordination with the insurers and
reinsurers as well as to make a time suited reformation in such
directory.
(i) To provide necessary report, advice and suggestion to the
Government of Nepal through the Insurance Committee in regard
to the operation of Fund.
(j) To deduct the amount prescribed by the Board of Directors by
obtaining approval of the Insurance Committee from the
reinsurance commission to be obtained from the reinsures in
regard to the risk group and to pay the remained amount to the
concerned insurers.
(k) To finalize the process of claim under these Rules.
(l) To make clearance of the claim made by the risk group, to deliver
authority to the insurers for clearance of the claim.
(m) To prepare and implement the Financial and Administrative
Directory necessary for the operation of fund.
(n) To formulate necessary criteria for the membership of the Fund
and to make necessary decision in regard to the membership of
the insurers who have not obtained membership of the fund in the
beginning.
(o) To dismiss the membership of the member insurers under Rule 5.
(p) To award the membership certificate to the member insurers.
(q) To accomplish other functions necessary for achievement of the
objective of these Rules.
functions, duties and rights of the Board of Directors shall be as follows:
(a) To manage the fund.
(b) To make and cause to be made necessary arrangement and
implementation of reinsurance of the risk group.
(c) To overview the reinsurance arrangement of the risk group.
(d) To make and cause to be made coordination with the insurers to
make arrangement of further security of the risk group in the
future by giving due consideration to the welfare of fund, to make
arrangement of new reinsurance and to renew.
(e) To make and cause to be made payment of reinsurance premium
by collecting the necessary reinsurance statement and insurance
premium of the risk group from the member insurers.
(f) To appoint the surveyors recognized by the Insurance Committee
for the procedure of clearance of claims made at the Fund or to
prescribe the criteria regarding the surveyors to be appointed by
the member insurers for the same purpose.
(g) To implement by preparing a Directory relating to the procedure
of clearance of claim under these Rules.
(h) To implement by preparing a Directory of Management of
Insurance, Reinsurance relating to the “Risk Group” for the
members insurers and to make coordination with the insurers and
reinsurers as well as to make a time suited reformation in such
directory.
(i) To provide necessary report, advice and suggestion to the
Government of Nepal through the Insurance Committee in regard
to the operation of Fund.
(j) To deduct the amount prescribed by the Board of Directors by
obtaining approval of the Insurance Committee from the
reinsurance commission to be obtained from the reinsures in
regard to the risk group and to pay the remained amount to the
concerned insurers.
(k) To finalize the process of claim under these Rules.
(l) To make clearance of the claim made by the risk group, to deliver
authority to the insurers for clearance of the claim.
(m) To prepare and implement the Financial and Administrative
Directory necessary for the operation of fund.
(n) To formulate necessary criteria for the membership of the Fund
and to make necessary decision in regard to the membership of
the insurers who have not obtained membership of the fund in the
beginning.
(o) To dismiss the membership of the member insurers under Rule 5.
(p) To award the membership certificate to the member insurers.
(q) To accomplish other functions necessary for achievement of the
objective of these Rules.