Nepal Insurance Authority Chairman Vows Strict Action Against Errant Companies

Kathmandu – Madan Dahal, Chairman of the Nepal Insurance Authority, has reaffirmed his commitment to strict regulatory measures against companies involved in misconduct. Speaking at a press conference on Wednesday, Dahal emphasized his determination to bring about tangible reforms and ensure accountability in the insurance sector.

As part of his tenure’s initiatives, Dahal announced plans to appoint a new executive director to enhance the institution’s leadership capacity. He also stated his intent to regulate the insurance sector with the same rigor as Nepal Rastra Bank, setting a benchmark for oversight and governance.

A key focus of the Authority under Dahal’s leadership is ensuring the timely settlement of claims for policyholders. He underscored the importance of timely claim settlements for policyholders, stating, “Justice delayed is justice denied.”

He further assured that the Authority is actively working to prevent delays in claim payments, particularly when all required documents have been submitted. Companies found to be in violation of these guidelines are expected to face strict action.