Nepal's insurance regulator has directed companies to freeze assets and deny services to entities and persons associated with terrorism as the nation works toward removal from the Financial Action Task Force grey list. The Insurance Authority issued guidelines requiring insurers to block resources belonging to individuals and organizations designated by the United Nations Security Council, including groups accused of attacking India, such as Lashkar-e-Toiba, Jaish-e-Mohammed and Harakat-ul-Jihad Islami.
Asset freezing prevents issuance, transfer, conversion and settlement of claims involving designated persons while also barring provision of insurance policies, funds, or related services. Companies must subscribe to United Nations...