{"id":304956,"date":"2026-06-27T14:13:36","date_gmt":"2026-06-27T08:28:36","guid":{"rendered":"https:\/\/insurancekhabar.com\/?p=304956"},"modified":"2026-06-27T14:15:04","modified_gmt":"2026-06-27T08:30:04","slug":"the-silent-voices-in-the-insurance-sector-2","status":"publish","type":"post","link":"https:\/\/english.insurancekhabar.com\/the-silent-voices-in-the-insurance-sector-2\/","title":{"rendered":"The Silent Voices in the Insurance Sector"},"content":{"rendered":"<ul>\n<li><span style=\"color: #0000ff\"><strong>Santosh Acharya<\/strong><\/span><\/li>\n<p>}<\/p>\n<\/ul>\n<p>The universally accepted principle of law is that one innocent person should not suffer injustice, but a hundred convicts may get away. The potential financial crimes currently seen in the financial sector have caused huge ripples and serious concern across the country. Upholding the principle that the law is supreme, it has become the prime responsibility of the state to carry out meticulous study, impartial investigation and prudent decision to ensure that no innocent person is subjected to injustice and bring to book whoever is guilty. <\/p>\n<p>The occurrence of a wrong event or event may be related to the planned planning of an individual or group, a conflict of interest, or an indirect benefit. However, if a person&#8217;s direct or indirect involvement in such wrongdoing is not proved merely on the basis of his name being attached to his position, role or responsibility, then it is not justified to convict such a person or to make him a scapegoat to prove guilty. <\/p>\n<p>Such a tendency seriously damages not only to an individual but also to the entire social structure, individual dignity, human rights and public confidence in the justice system. Therefore, in the current situation, the state needs to take every decision with restraint, impartiality and deep accountability. If a person is innocent, his faith in the state and the foundation of justice should not be allowed to die. <\/p>\n<p>Ultimately, the real meaning of justice is not only to punish the guilty but also to protect the innocent. The greatest need of the hour is for the state to fulfill its responsibilities keeping this principle at the center. <\/p>\n<p>It is imperative for the state to conduct a thorough and impartial investigation into the extent to which powerful individuals or groups who have the ability to influence or change the state machinery can use pressure and influence to protect an ordinary job or to protect an individual. <\/p>\n<p>On the other hand, it is equally necessary for the state to take stern and ruthless action in accordance with the rule of law without any bias if it is proved that an employee has taken personal benefits by abusing his position, responsibility or authority. <\/p>\n<p>A just state can be established only when the undue interference of influential people is monitored and the situation of those in private responsibility is properly assessed. <\/p>\n<p>Generally, the performance of any company or organization is divided into two main types. First, day-to-day administrative and operational functions and second, long-term policy and institutional decision-making. The final decision on day-to-day operations is usually delegated to the head or chief executive officer of the organization, while committees, boards, or special task forces are formed with collective responsibility for long-term policy decisions. <\/p>\n<p>However, in some institutions, the final decision on long-term policy issues has been delegated to a single coordinator or key person. This is where the legal question of liability arises. If a wrongdoing is committed at the policy level by the common consensus, planning or collective effort of the group, then it is justified to look at it from the perspective of collective responsibility or collective crime. However, if an individual, using the scope of the authority given to him, makes a single erroneous or illegal decision by reducing policy matters to the level of personal decision, then the main responsibility for the wrongdoing arising out of this should be focused on the empowered person rather than the group. <\/p>\n<p>Nepal&#8217;s core principles of law and governance also require that rights are combined with accountability. Therefore, if a person with authority has misused his position, authority or jurisdiction and exhibit wrong tendencies, the state mechanism should be determined and proactive to declare such act wrong, conduct an impartial investigation and take necessary legal action. <\/p>\n<p>The rule of law is strong only when individual abuses are not hidden under the guise of collective decision, and legal accountability is inevitably ensured with the exercise of authority. <\/p>\n<p>In the context of the allegations of irregularities seen in the field of share trading and financial investment, the State needs to first thoroughly examine whether the errors or irregularities in the related work were in the course of exercising the day-to-day administrative and operational powers or whether the concerned Board of Directors had duly authorized or approved to perform such functions. <\/p>\n<p>Another important question is whether the decision was made on the basis of the collective decision of the Board of Directors in accordance with the institutional process or whether a person holding a particular position had exceeded the limits of his or her powers and took a single decision in collusion with a limited group of people without informing other responsible committees or officials. <\/p>\n<p>If any financial irregularity is proved to have been committed by collective consensus or committee decision as part of the institutional decision-making process, then it is justified that the responsibility should be determined collectively. However, if, in the name of delegation of power, a particular person is found to have committed wrongdoing through a secret or unilateral decision, using the influence of his position in disregard of law, process and institutional approval, then the main legal responsibility should be concentrated on the person concerned. <\/p>\n<p>Similarly, who is the person who helps in a sensitive act like insider trading in share trading should come under the purview of serious investigation. It is necessary to be clear who controlled the user ID and password of the TMS used to buy or sell shares, who operated it, and who was the person who authorized or authorized such a particular action. Ensuring the prime responsibility and accountability of the people involved in such decisions and procedures is the basis of good governance and transparency. <\/p>\n<p>Nepal&#8217;s rule of law also establishes the principle that accountability is inevitably linked with the exercise of authority. Therefore, it is imperative for the state to clearly identify the real decision-makers, sources of authority and level of responsibility through impartial investigation and proceed with the legal action in such cases where financial discipline and public trust are affected. <\/p>\n<p>Today&#8217;s first priority should be to create an environment of trust in the insurance industry by addressing the doubts, confusion and mistrust created among the insured, agents, shareholders, employees and all the companies in the insurance industry. Because it is a very important responsibility of all stakeholders to protect and promote public trust in the insurance industry as a whole. <\/p>\n<p>Action must be taken against the person or group who makes the mistake and benefits from it. However, the system of putting all the employees who have not done wrong in the same box is unfair. If such an environment is created, then tomorrow honest and capable people will be afraid to work in such fields. <\/p>\n<p>Wake up on time. Let us all work towards saving the industry by improving it, not destroying it. <\/p>\n<p>The insurance sector is not just a business of companies, it is a pillar of trust, security and economic stability of millions of citizens. Therefore, just because you hold an innocent position, you should not be responsible for the faults of others. <\/p>\n<p><span style=\"color: #0000ff\"><strong><em>(Author Acharya teaches at City College in Biratnagar.) )<\/em><\/strong><\/span><\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Santosh Acharya } The universally accepted principle of law is that one innocent person should not suffer injustice, but a hundred convicts may get away. The potential financial crimes currently seen in the financial sector have caused huge ripples and serious concern across the country. Upholding the principle that the law is supreme, it has [&hellip;]<\/p>\n","protected":false},"author":9,"featured_media":242678,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[45031,45159,45156],"tags":[],"class_list":["post-304956","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-banner-news-en","category-news-en","category-blog-en"],"acf":[],"_links":{"self":[{"href":"https:\/\/insurancekhabar.com\/ikbrapi\/wp\/v2\/posts\/304956","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/insurancekhabar.com\/ikbrapi\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/insurancekhabar.com\/ikbrapi\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/insurancekhabar.com\/ikbrapi\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/insurancekhabar.com\/ikbrapi\/wp\/v2\/comments?post=304956"}],"version-history":[{"count":1,"href":"https:\/\/insurancekhabar.com\/ikbrapi\/wp\/v2\/posts\/304956\/revisions"}],"predecessor-version":[{"id":304957,"href":"https:\/\/insurancekhabar.com\/ikbrapi\/wp\/v2\/posts\/304956\/revisions\/304957"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/insurancekhabar.com\/ikbrapi\/wp\/v2\/media\/242678"}],"wp:attachment":[{"href":"https:\/\/insurancekhabar.com\/ikbrapi\/wp\/v2\/media?parent=304956"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/insurancekhabar.com\/ikbrapi\/wp\/v2\/categories?post=304956"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/insurancekhabar.com\/ikbrapi\/wp\/v2\/tags?post=304956"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}