Former Chairmen Urge Nepal Insurance Authority Chief to Resist Political Interference

Kathmandu – Former chairmen of the Nepal Insurance Authority have urged current Chairman Sharad Ojha to uphold the integrity of the regulatory body by resisting political interference and strictly adhering to the law.

During a discussion held at the Authority’s central office in Kupandol, Lalitpur, former chairmen Madhav Prasad Upadhyaya, Devendra Pratap Shah, and Prof. Dr. Fatta Bahadur K.C. shared their insights and experiences. They emphasized the importance of maintaining the Authority’s independence, strengthening its leadership, and making unbiased decisions in the best interest of the insurance sector.

The former officials advised Chairman Ojha to stay firm against external pressures, avoid undue influence from political forces or insurance companies, and make decisions based on regulations rather than personal or external interests. They highlighted the necessity of preventing unhealthy competition and market distortions while ensuring a conducive environment for the industry to grow.

In response, Chairman Ojha assured that he would continue the good practices established in the past while introducing further improvements to strengthen the regulatory role of the Authority. He stated that the meeting was organized to gain insights from past leadership experiences and better understand the challenges and reforms needed in the sector.

Ojha acknowledged the significance of past decisions in shaping the insurance sector and expressed his commitment to making it more organized, competitive, and aligned with both governmental expectations and industry needs. The program was attended by senior officials of the Authority, including directors Sushil Dev Subedi and Kamal Prasad Regmi, along with deputy directors.