Kathmandu. The Finance Committee under the House of Representatives (HoR) is scheduled to hold discussion with Chandrakala Poudel, chairperson of Nepal Insurance Authority (NEA), on Tuesday morning.
According to the notice published by the Finance Committee, the committee will seek information from the Insurance Authority regarding the policy and operational problems and challenges related to the regulation of the insurance sector, the efforts made to protect the insured interest and reduce the risk of the insurance business and the main activities carried out by the Authority in the fiscal year 2082/83.
Apart from this, the committee will also inquire about the performance status of the government-owned National Life Insurance Company and National Insurance Company in the last 3 years and the regulatory initiatives taken by the Insurance Authority for high performance.
The government has filed a criminal case against the directors and CEOs of 7 insurance companies, including the directors and promoters of Himalayan Reinsurance. Questions have been raised on the regulatory capacity of the authority saying that the Insurance Authority showed interest in the investigation only after other agencies found irregularities in the investigation.
