Insurance Authority’s Chairman Instructs Insurers to Be Cautious in Selection of New Agency

Kathmandu: Chairman of Nepal Insurance Authority Surya Prasad Silwal has instructed insurance companies to be cautious while making a selection of candidates for new agency licenses.

Addressing an interaction program held at the Authority’s office on Tuesday, Chairman Silwal stressed the selection of individuals with dedication and honesty for the insurance profession. Silwal said that the quality of the insurance business and credibility in insurance will increase from the committed, skilled, and qualified insurance agents.

Rajuraman Paudel, Executive Director of Authority, instructed the insurance companies to focus on quality over quantity.

Addressing the head of the agency department of insurance companies, Shambharaj Lamichhane, Deputy Director of Nepal Insurance Authority shared that ‘an agency working for two or more insurers must get clearance from other insurers before choosing a single insurer.’ The provision may be helpful for the insurers to recover their long pending agency loan.

Assistant Director Shambhu Prasad Mishra presented the online system for the management of insurance agents. The Authority is mulling executing the online examination system for new agency licenses.


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