Kathmandu. The Nepal Insurance Authority (NEA) has warned of taking action against the agents spreading misleading and exaggerated publicity about the insurance scheme.
The Authority issued a circular in the name of all licensed agents on Monday. The authority has directed the insurance companies and the concerned intermediaries to stop any kind of misleading, exaggerated and unauthorized publicity that violates the Insurance Act, 2079 BS and the code of conduct.
The NRA has warned that action would be taken as per the prevailing laws if such activities were found taking place in the future.
According to the authority, the authority has been receiving complaints and complaints that the insurance companies have been making false publicity and insurance related to the insurance with an adverse impact on their business. Clause 19 of the Insurance Agent Directive, 2083 (2083) Misleading Publicity of Schedule 1 (h) of the Insurance Agent Code of Conduct: It is clear that false and exaggerated publicity shall not be made about any insurer who is an insurance agent or about the capacity of the insurer to represent him/her. The NRA has said that attention has been drawn to the activities being carried out against the said provision.
