Kathmandu. 6 insurance companies have been taken to task. A meeting of the Nepal Insurance Authority (NEA) held on May 17 has decided to take action against 6 insurance companies.

Those facing action by the authority are United Ajod Insurance, Prabhu Insurance, Himalayan Everest Insurance, Siddhartha Premier Insurance, Sanima GIC Insurance and Neco Insurance.

All six insurance companies have been fined Rs 2 lakh each. According to the authority, action has been taken against 6 insurance companies for issuing insurance policies at a lower rate than the criteria set in the PI of fast track and arbitrarily canceling the policy.