Agitating Agency Union postpones nationwide agitation following assurance from Authority

Kathmandu: The agitating Professional Life Insurance Agents’ Association has agreed to postpone the proposed strike amid an understanding with the Nepal Insurance Authority. According to the representatives of the Association, it has been agreed that the 7 points demand of the Association will be addressed through the task force to be formed by the Ministry of Finance(MoF) in the upcoming month.

The general secretary of the Association Om KC said, ”Raju Raman Paudel, the executive director of the Authority has assured us to address the demands through the task force to be formed by the ministry of finance.” The meeting between representatives of the Association and the Authority was held at the office of the Authority on Wednesday. According to the Association, a task force is proposed to be formed by the MoF to address the demands and suggestions of stakeholders for the proposed Regulation.

Authority will forward the issues and demands raised by the Association to the proposed Task Force of the MoF and will request to find an amicable solution for it.

The Association had announced staging a nationwide strike against the provisions made on the draft of Insurance Regulation 2080. The Association has put forth 7 points demand for the amendments of provisions made on the proposed Regulation. The demand includes amendment of provision on renewal of agency license, removal of terms and conditions for the agency commission and incentives, and revoking the provision of web aggregator.

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