Kathmandu. The Nepal Insurance Authority (NIA) is to form a study task force to resolve the disputes created in the insurance sector due to the provision related to the 18 percent incentive mentioned in the Insurance Regulations 2081.
Stakeholders have been consistently expressing dissatisfaction saying that the regulation has fixed the limit of incentive per agent, it will endanger the business of insurance companies and the profession of insurance agents. The task force to be formed to address the concerns of insurers and agents will include representatives of Insurance Authority, Life Insurance Association and Insurance Agents Association.
Based on the practical suggestions presented by the task force, the Board of Directors of the Insurance Authority will facilitate the implementation of the provisions of the Insurance Regulations 2081. In addition, the Authority has said that a long-term solution will be sought by taking policy initiatives as per the need.
