Kathmandu. Nepal Insurance Authority, Koshi Province Office Biratnagar has directed the life and non-life insurance companies to make insurance service more systematic, transparent and insurance-friendly. <\/p>\n
At a discussion and interaction program organized at the Koshi Province Office on Friday, the meeting welcomed and congratulated the newly-appointed Chief of Koshi Province, Rajendra Maharjan and discussed the action plan for the upcoming fiscal year, challenges of insurance business and service improvement. <\/p>\n
Province chiefs and representatives of life and non-life insurance companies operating in Koshi Province were present in the program<\/p>\n
.<\/p>\n
Addressing the program, Koshi Province Chief Maharjan stressed on the need of making the agents more responsible, professional and accountable to resolve the problems seen in the insurance sector. He said that the agent selling the insurance plan by directly contacting the insured should give clear information about the terms of the policy, risk, coverage, claim process, lapse and surrender arrangements. <\/p>\n
Maharjan said that a declaration form should be developed and implemented to make the agent responsible to reduce the tendency of selling insurance by giving wrong or incomplete information. He said that the system of issuing insurance policies should be developed only after ensuring that the necessary information is given to the insured. <\/p>\n
Stating that problems have surfaced in claim payment due to misselling, he directed the company to provide regular training to the agents not only in the sale of insurance plans but also on professional conduct, risk identification, insured counseling and terms and conditions of the policy. <\/p>\n
He also urged the government to effectively review the details and appropriateness of insurance policies issued by banks in the non-life insurance business. <\/p>\n
He stressed on the need of clearly mentioning the details of raw materials, semi-finished and finished goods in property and stock insurance. He said that the province head and employees of the company should check the completeness of the necessary details and declaration before issuing the insurance policy as there may be disputes in the claim in the future due to the discrepancy between the details mentioned in the policy and the actual risk. <\/p>\n
Maharjan said that priority should be given to providing adequate information to the insured, making the agents accountable and enhancing the capacity of the employees to make the insurance business clean, competitive and trustworthy. He also stressed the need of making coordination among the province offices, branches, agents and bodies concerned more effective.<\/p>\n","protected":false},"excerpt":{"rendered":"
Kathmandu. Nepal Insurance Authority, Koshi Province Office Biratnagar has directed the life and non-life insurance companies to make insurance service more systematic, transparent and insurance-friendly. At a discussion and interaction program organized at the Koshi Province Office on Friday, the meeting welcomed and congratulated the newly-appointed Chief of Koshi Province, Rajendra Maharjan and discussed the […]<\/p>\n","protected":false},"author":9,"featured_media":312203,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[45159,45099],"tags":[],"class_list":["post-312207","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-en","category-regulatory-en"],"acf":[],"_links":{"self":[{"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/posts\/312207","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\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/comments?post=312207"}],"version-history":[{"count":1,"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/posts\/312207\/revisions"}],"predecessor-version":[{"id":312208,"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/posts\/312207\/revisions\/312208"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/media\/312203"}],"wp:attachment":[{"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/media?parent=312207"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/categories?post=312207"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/tags?post=312207"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}