Kathmandu. Chairman of Nepal Insurance Authority Sharad Ojha has directed the chiefs of state and branch offices of insurers to be honest with the insurance profession and work in such a way that the insurance business is sustainable. Addressing a discussion and interaction programme organized by The Nepal Insurance Authority (NEA) with the chiefs of the state and branch offices of insurers in Koshi province in Biratnagar today, Chairman Ojha directed them to identify the good and bad aspects of the insurance profession and take forward only the good aspects.
Chairman Ojha directed the insurers not to do business in accordance with the Insurance Act, Rules and Guidelines, to properly assess the risk and not to work in a way that sends a negative message to the market.
Stating that the importance of insurance business is to be increased by insurers and not others, Chairman Ojha said that there would be no problem in payment of claims if the insurer gives correct information while issuing the insurance policy.
Chairman Ojha said, “Citizens should get the claim payment after insurance, honesty is necessary along with capacity building of employees.” ”
Director of Nepal Insurance Authority Nirmal Adhikari said that action would be taken if the insurance companies do not follow good governance and cut the rate.
On the occasion, the participants opined that powers should be delegated to the provincial offices of the insurer, a certain percentage of the premium collected in the province should be spent in the respective provinces under the corporate social responsibility, training should be arranged for the employees, the establishment of branch offices should be in accordance with the standards, and initiatives should be taken to include insurance in the curriculum of schools and universities.
On the occasion, Deputy Director of Nepal Insurance Authority Rajendra Maharjan delivered the welcome speech while Chief of Koshi Province Office of NEA Binod Pokharel conducted the program.
Chiefs of state and branch offices of insurance companies in Koshi province, office bearers of Insurance Professionals Society and insurance intermediaries were present on the occasion.
