Monday 2nd November 2026
Kathmandu – Although the use of digital technology has started increasing in Nepal’s microinsurance companies, a shortage of skilled manpower, limited digital access and a lack of customer confidence in technology have emerged as major challenges to its implementation. A report published by the Nepal Insurance Authority shows that the...
Kathmandu – The government has moved forward with the process of appointing a new chairman of the Nepal Insurance Authority. According to sources, five months after applications were invited for the position, the appointment process is now nearing its final stage. A new chairman is likely to be appointed...
Kathmandu — The Professional Insurance Agents Association Nepal has demanded an immediate halt to cuts in incentive payments to agents after life insurance companies began reducing the amounts they provide. The association has objected to what it says is the Nepal Insurance Authority’s failure to intervene despite the cuts directly affecting agents’ incomes. It has urged the authority to instruct insurance companies not to...
Kathmandu — The government will provide around Rs 2.19 billion in subsidies for crop and livestock insurance in the current fiscal year 2026/27 to reduce risks and losses in the agricultural sector and strengthen farmers’ financial security, according to the Ministry of Agriculture and Livestock Development. The government has prioritized insurance support to help minimize agricultural losses caused by...
Kathmandu — The flood in Rasuwa has disrupted communications with insurance companies, banks, hydropower projects and other offices operating in the area. There is still no confirmed information on the extent of damage caused to the offices of insurance companies and banks. The Ministry of Energy, however, is collecting data on the damage caused to hydropower projects. The branches...
Kathmandu – ICRA Nepal has downgraded Nepal Reinsurance Company Limited’s issuer credit rating from ‘ICRA NP-IR A’ to ‘ICRA NP-IR A-‘, citing the reinsurer’s potentially large exposure to claims from the devastating August 26 flash floods. The company remains on ‘watch with negative implications.’ The ‘W’ notation attached to the rating signals that further review is pending, while the...
Kathmandu – Nepal Rastra Bank and several commercial banks have temporarily shut down their websites and some web-based services after a serious vulnerability was identified in PHP, a programming language widely used to run websites and online systems. The shutdowns are a precaution against possible cyberattacks. The National Cyber Security Centre had earlier issued an emergency advisory urging government agencies, public service providers and website operators to assess their...
