Kathmandu: The Insurance Board has allocated Rs. 10 million for conducting public awareness programs nationwide.
This is the first time that the insurance board has given emphasis on the awareness aspects.Currently, the it is conducting awareness program at local level in the far western province.
Executive Director of the Insurance Board Rajuraman Poudel said that around Rs. 10 million has been allocated for the current fiscal year 2078/79. Earlier, the budget allocation was around Rs. 6.5 million only.
The board aims to conduct 100 awareness events across the country within current fiscal year.It has been criticized that the board remain indifferent to raise awareness among general public though it has piled up funds from the royalty collected through life and non life insurers.
The government of Nepal aims to increase the access to insurance to 33 percent from current 27 access. The access is counted based on the total number of policy issued and the total number of population.