Kathmandu. Nepal Insurance Authority (NEA) has also imposed a cooling period for insurance agents.
An agent will not be allowed to work for another insurer for 1 year after leaving the insurance company where he or she is working.
Once the insurer has started working as an agent from one insurance company to another insurance company, the agent will not be allowed to apply for another change of insurer after the completion of 1 year.
However, the Insurance Authority has adopted some flexibility regarding the process and paper evidence to be completed by the agent to change the insurer. If you leave the insurer and go to any other insurance company, the agreement letter of the insurer will no longer be required.
According to Section 17 of the Directive, the agent must submit only the license of the concerned agent, the certificate of training from the insurer who wants to be the agent, the certificate of payment of the license fee and the regulation fee.
