Written Examination for Agency License Is Must: Insurance Authority

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Kathmandu: The Nepal Insurance Authority has instructed all the insurers to issue agency license only after the completion of training and conduction of written exam. Following the provision of the new Insurance Act 2079, the Authority has made it mandatory for all the insurers to conduct written examination before recommendation of new agency license.

The NIA has also instructed all the insurers to conduct the examination unless a new mechanism is executed by the authority itself.

The clause 92(2) of the recently executed act, Insurance Act 2079, states that the new agency must qualify in the license examination before obtaining a license. Following the same provision the NIA is in preparation for the conduction of centralized examination system for effective monitoring and control.

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