Kathmandu. Kathmandu: Nepal Insurance Authority (NEA) has organized a discussion and interaction programme with the chairmen and members of the Board of Directors of non-life insurance companies in Kathmandu today.
The program has been organized with the objective of obtaining opinions after discussing with the chairmen and members of the board of directors of the insurance industry on the current situation of the insurance industry, claim payment, investment areas, digitization, institutional good governance, financial statements, insurance education and service delivery.
Addressing the program, Chairman of Nepal Insurance Authority Sharad Ojha directed the chairmen and members of the Board of Directors of non-life insurance companies to play a strong role responsibly to make the insurance company financially strong, ensure profits and protect the interests of the insured.
Instructing the state offices of insurance companies to be empowered with the right to settle claims, Chairman Ojha said that it was necessary to increase confidence in insurance by making timely claim payment as the number of claim payments was increasing even in the state offices of the AUTHORITY.
Stating that the NRA has been playing the role of facilitator and regulator for the development and expansion of the insurance sector in parallel, Chairman Ojha said that the NRA was ready to cooperate with the development of the insurance industry, protecting the interest of the insured, expanding the scope of insurance and providing projected services to reach the target group.
In his welcome address on the occasion, Executive Director of Nepal Insurance Authority Sushil Dev Subedi said that NEA has been playing the role of a facilitator along with regulatory role to advance the insurance industry in an orderly manner, protect the interests of the insured and solve the problems seen in the insurance sector.
On the occasion, Deputy Director of Nepal Insurance Authority Hridayeshwar Pandit made separate presentations on the role of the Board of Directors in maintaining institutional good governance in the insurer and Deputy Director Virodh Wagle made separate presentations on the role of the Board of Directors regarding the audit and financial statements of the insurer.
Chairmen and members of the board of directors of non-life insurance companies, non-life micro-insurance companies and reinsurance companies participated in the program.
