Kathmandu: The Insurance Board has made preparation to give a mandatory exam for life insurance agency license. Surya Prasad Silwal, chairman of the Board, said that since the first underwriters of life insurance are the agents, a written examination is necessary to ensure that they are fully familiar with the insurance rules, regulations and ethics.
Silwal stressed on such changes amid the involvement of life insurance agents in life insurance scam. He said that the arrangement of examination is essential for the production of skilled and insurance-savvy agents.
Till date the insurance agent’s license is issued immediately after one attends a three days insurance training conducted by the insurers. The minimum qualification to apply for the license is SLC or SEE certificate, citizenship certificate and character certificate. Most of the license is issued without any proper training to the agents.
