Kathmandu. The Board of Directors of Nepal Insurance Authority (NEA) is gradually falling vacant. The policy decisions of the NRA have been stalled due to the post of chairperson of the NRA becoming vacant time and again after two chairpersons of the Authority were forced to leave before the completion of their term. <\/p>\n
Among the three members of the five-member board of directors, Santosh Rijal, an insured representative, has retired from the NEA on December 3 after completing his four-year term. As per the provision of the Insurance Act, 2049 BS, the cabinet had appointed Rijal to the Board of Directors of NEA on December 3, 2021 as the representative of the insured. <\/p>\n
After Rijal’s departure, the board of directors of NEA is now limited to two members. Since the decision has to be taken by a majority of the board of directors for policy decisions, there is no real meaning of having a two-member board of directors. <\/p>\n
Currently, Janak Raj Sharma is the acting chairman of the NRA as the representative of the Ministry of Finance. Man Bahadur Aryal, a representative of the Ministry of Law, Justice and Parliamentary Affairs, is the only member of the board of directors of the NRA. <\/p>\n
Two presidents date<\/strong><\/span><\/p>\n }<\/p>\n Sharad Ojha, who was appointed by the Council of Ministers as per the provisions of the Insurance Act, 2079, is scheduled to appear before the Supreme Court. The controversy has escalated after he went to the Supreme Court against the cabinet’s decision to sack him. The case against him is also sub-judice at the Supreme Court over his lack of work experience for the post of chairman. <\/p>\n