Nepal Insurance Authority Pushes for Bundle Product and Wider Coverage in Koshi Province

Kathmandu – Nepal Insurance Authority Chairman Sharad Ojha has announced that the authority is working to develop a ‘bundle product’ and launch a province-wide insurance campaign in all seven provinces, starting with Koshi. He made this statement during an insurance-focused discussion program held at the Assembly Hall of the Office of the Chief Minister and Council of Ministers in Koshi Province.

Ojha thanked the provincial government for its proactive support in implementing the Insurance Act and Regulations and highlighted ongoing efforts to introduce elephant insurance policies in buffer zones facing frequent wildlife-related risks.

He further urged the Koshi Province government to take concrete steps to bring informal sector workers and low-income populations under insurance coverage.

Koshi Province Chief Minister Hikmat Kumar Karki, the chief guest at the program, stated that the provincial government will soon form a high-level committee to study the expansion of insurance coverage and formulate a provincial insurance policy. He emphasized a shift from traditional relief distribution to promoting home insurance and pledged to increase insurance coverage among citizens, especially low-income earners.

Chief Minister Karki stressed that confidence in insurance will not grow unless insurers settle claims promptly. He called on the Insurance Authority to take strict action against companies delaying claim payments.

During the event, Nepal Insurance Authority Director Nirmal Adhikari gave a detailed presentation on the current insurance landscape, the importance of insurance, and the provincial government’s role in supporting insurance expansion.

Participants at the event voiced the need for a standardized provincial insurance policy across all provinces, stronger coordination between federal and provincial levels, and the immediate introduction of elephant insurance in affected areas. They also called for efficient and timely claim settlements.

The program saw the participation of the Koshi Province Minister, Vice-Chairman of the Provincial Planning Commission, provincial secretaries, ministry officials, and employees from the central and provincial offices of the Insurance Authority.