Chairman Dahal Pledges Reforms and Action to Strengthen Nepal’s Insurance Sector

Kathmandu – Madan Dahal, Chairman of the Nepal Insurance Authority, has reaffirmed his commitment to driving reforms and ensuring prosperity within the country’s insurance sector. Speaking about his priorities on press conference yesterday, Dahal emphasized the importance of uniting the Insurance Authority, insurance companies, insured individuals, and other key stakeholders to work towards a more efficient and transparent industry. He also highlighted the critical role of media in increasing insurance accessibility.

Dahal expressed his determination to modernize the insurance sector by leveraging new technology, innovative products, and skilled human resources. He reiterated that the Insurance Authority must be self-reliant in its operations, encouraging a proactive approach to sector improvements.

Addressing the long-vacant position of Executive Director, Dahal committed to expediting the appointment process and assured that promotions at other levels within the Authority would follow.

In a bold move, Dahal promised to take swift action against insurance companies involved in misconduct, signaling a departure from previous leniency towards wrongdoers. This has brought hope to companies that operate with integrity, especially as the Nepali insurance sector faces challenges, including the takeover of two government-owned insurers.

During Dahal’s leadership, the insurance industry is expected to see dynamic changes through enhanced collaboration and coordination with all relevant stakeholders, ushering in a new era for Nepal’s insurance sector.