Kathmandu. Sudurpaschim Province Chief Minister Kamal Bahadur Shah has informed that he is ready to formulate a provincial insurance law and policy for the development and expansion of insurance in the province. He has also requested the Nepal Insurance Authority to cooperate in this regard.
At an insurance-related interaction and discussion program organized by the Nepal Insurance Authority in Dhangadhi, Kailali on Wednesday, Chief Minister Shah mentioned that he has been insuring women volunteers and is interested in disaster insurance. He pointed out the need to simplify the claim process to reduce hassle in insurance claim payment.
Hira Sarki, Minister of Internal Affairs and Law of Sudurpaschim Province, expressed his commitment to take initiatives to connect the common citizen with insurance, make subsidies more effective, and move forward by linking insurance and disasters.
Sharad Ojha, Chairman of the Nepal Insurance Authority, said that the authority will work by keeping in mind both the interests of the insured and the financial condition of the insurer. Stating that emphasis should be placed on agricultural insurance by providing general information about agricultural insurance subsidies through municipalities and ward structures, he said that the authority would support in preparing insurance policies to insure kutcha houses.
Participants in the program expressed their views that insurance companies should provide insurance only based on their ability to pay insurance premiums, that the Authority should take necessary steps to move forward by linking all components of the state with insurance, that the monitoring of insurance companies should be made more effective, that the Authority should facilitate further to speed up claim payments, and that agricultural insurance should be encouraged.
The program was attended by Far Western Province Social Development Minister Meghraj Khadka, Minister of State for Economic Affairs Prakash Bahadur Bam, and Minister of State for Physical Infrastructure Development Nirmala Devi Saud, Chief Secretary to the provincial government Dr. Kamal Prasad Pokhrel, secretaries of various provincial ministries, Chief Advocate, heads and chairmen of municipalities and rural municipalities, and heads of provincial offices of the Insurance Corporation, among others, participated.
