Beema Samiti (Insurance Board: Insurance Regulatory)
Introduction
Beema Samiti (Insurance Board) is the Insurance Regulatory Authority of Nepal which is under Ministry of Finance, Government of Nepal. The word ‘Beema’ means ‘Insurance’ and ‘Samiti’ connotes ‘Board’. Hence, the Word ‘Beema Samiti’ is synonymous to Insurance Board which is constituted to systematize, regularize, develop and regulate the insurance business within the country under Insurance Act, 1992. This Samiti (Board) looks after all the insurance related activities in the Federal Democratic Republic of Nepal. As a regulatory body, the Board’s main concern is to create a professional, healthy and developed insurance market in Nepal.

VISION:
Our Vision is to “Transform Beema Samiti (Insurance Board) into a highly prestigious and leading Institution of Nepal. 

MISSION:
Our Mission is to “Be recognized as a very professional and well-empowered insurance regulator through continuous learning, competence and integrity”

Roles, Function & Responsibility
To Provide suggestions to Nepal Govt. to formulate necessary policy for systematizing, regularizing, developing and regulating the insurance business,
 
Set out guidelines for insurers to invest their fund and prescribe the priority sectors for such investment,
 
Register and renew the Insurer, Insurance Agent, Surveyor or Broker and to cancel or cause to cancel such registration,
 
Arbitrate in the disputes, which arises between the insurer and insured,
 
Make decision on the complaints filed by the insurer regarding to the settlement of liability of the insurance,
 
Issue necessary directives to the insurer from time to time regarding insurance business,
 
Formulate necessary basis fo the protection of interest of the insured, and
 
Do or caused to do other necessary functions regarding insurance business.

Beema Samiti (Address)
Lalitpur-10, Kupandole, Nepal
Kathmandu, Nepal
CToll Free No.
1660-01-56789
Contact Email
info@nib.gov.np