Kathmandu. The implementation of the annual policy and programme unveiled by the Nepal Insurance Authority (NEA) for the first time since the current fiscal year has been disappointing. <\/p>\n
Most of the commitments announced by the regulator through its annual policies and programmes for the promotion of the insurance sector, regulatory reforms and protection of insured interests have not been implemented. There is no progress on some of the commitments. The NRA has already announced another policy and programme for the coming fiscal year 2083\/84 before the implementation of this policy and program. <\/p>\n
9.5 Among the various programs included in the policy and program, Policy No. 8. (e) Research-based policy making, insurance policy development and delivery of quality services. It includes a variety of programs from A to T. Among them, the NEA has limited the important works to be done for the promotion of Nepal’s insurance sector and the welfare of the insured on paper. <\/p>\n
To create a new mortality table throughout the year, to create a legal framework prioritizing climate change and disaster risk management<\/p>\n
There is no progress in carrying out other necessary works, setting up of Insurance Information Centre and implementation of Insurance Development Fund. <\/p>\n
The Nepal Insurance Authority, which is the regulator of the insurance sector, has the problem of not implementing many policy issues in paper for the promotion of the insurance sector and protection of the interest of the insured. <\/p>\n
Another important issue that the Chairman and Executive Director of the NRA have not implemented for many years is the establishment of the Insured Interest Protection Fund. Despite the clear provision in the Insurance Act 2079 and Insurance Rules 2081 regarding the operation of the Insured Interest Protection Fund, the responsible officials of the Authority have not implemented this issue due to the undue influence of the limited insurers.<\/p>\n","protected":false},"excerpt":{"rendered":"
Kathmandu. The implementation of the annual policy and programme unveiled by the Nepal Insurance Authority (NEA) for the first time since the current fiscal year has been disappointing. Most of the commitments announced by the regulator through its annual policies and programmes for the promotion of the insurance sector, regulatory reforms and protection of insured […]<\/p>\n","protected":false},"author":5,"featured_media":306091,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[45031,45159,45099],"tags":[],"class_list":["post-306519","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-banner-news-en","category-news-en","category-regulatory-en"],"acf":[],"_links":{"self":[{"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/posts\/306519","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/comments?post=306519"}],"version-history":[{"count":1,"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/posts\/306519\/revisions"}],"predecessor-version":[{"id":306520,"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/posts\/306519\/revisions\/306520"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/media\/306091"}],"wp:attachment":[{"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/media?parent=306519"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/categories?post=306519"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/tags?post=306519"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}