Kathmandu. KATHMANDU: Nepal Life Insurance Company Limited has directed its insurance agents not to make false and misleading publicity regarding insurance. Issuing a public notice, Chief Executive Officer (CEO) of the company, Prabin Raman Parajuli, warned his agents that action would be taken as per the law if they violate the directives of the Insurance Authority and the Code of Conduct of the company.
Nepal Insurance Authority (NEA) on Monday issued a notice stating that it has received complaints that some insurance intermediaries have been making false and misleading publicity affecting the business of various institutions. On the same basis, Directive No. Point No. 1 of Schedule 19 Contrary to 2 (h), an agent is prohibited from making false or exaggerated publicity about an insurer who is not an agent or about the capacity of the insurer to represent him.
According to Clause 2.25 of the Agent Code of Conduct, Nepal Life Insurance has been completely prohibited from maligning the image of the company on social media or other media. CEO Parajuli warned that stern action would be taken against the concerned agent if the misleading publicity was found violating the rules and the prevailing laws. and
