Insurance Agents Oppose New Insurance Regulations, Preparing to Protest

Kathmandu – Insurance agents across Nepal are preparing for protests against the recently approved Insurance Regulation 2081, claiming it curtails their rights. The regulation, passed by the Cabinet on January 11, imposes additional financial burdens on agents, including the responsibility for premium payments on policy renewals.

Agents have expressed frustration with the Nepal Insurance Authority (NIA) for implementing the regulation without consulting them. Despite repeated appeals, they claim their concerns were ignored.

Kedarnath Adhikari, President of the Professional Insurance Agents Association, Nepal, stated that discussions with NIA officials are ongoing, and protests will proceed based on their response. However, some agents have criticized the association’s leadership for its slow response.

Newly appointed NIA Chairman Sharad Ojha has requested time to review the regulation, leading to a temporary pause in protests. Meanwhile, Ganesh Adhikari, Central President of the Professional Insurance Agents’ Association, Nepal Life Insurance, has urged immediate revisions, warning that the restrictions could push aspiring insurance professionals to seek opportunities abroad.

Insurance Agents to Protest Against New Insurance Regulations