Nepal Insurance Authority Unveils Comprehensive Policy and Program for Fiscal Year 2082/83

Kathmandu — The Nepal Insurance Authority has officially made public its policy and program for the upcoming fiscal year 2082/83, outlining a broad vision for enhancing the accessibility, transparency, and quality of insurance services across the country.

During a press conference held in Kathmandu on Tuesday, the Authority announced that the new policy aims to strengthen the overall insurance ecosystem by promoting consumer protection, increasing public awareness, and modernizing regulatory practices.

According to the Authority, the policy is focused on making insurance services more reliable, transparent, and high-quality. It prioritizes the protection of the rights and interests of policyholders while also promoting widespread access to insurance through awareness and outreach campaigns. To ensure legal efficiency, the Authority plans to make the dispute resolution and complaints-handling mechanisms more effective.

Chairman Sharad Ojha emphasized that enhancing the internal regulatory structure and boosting the Authority’s capacity will be key priorities in the coming year. The policy includes a commitment to research-based policy formulation, development of insurance products, and improvements in service delivery.

In response to the growing need for digital transformation, the Authority will work to make the insurance sector more technology-friendly. It also plans to adopt a risk-based inspection system and strengthen regulatory, supervisory, and monitoring functions for insurers.

To combat fraud in the insurance sector, the Authority announced the establishment of a centralized information center, which will help maintain transparency and improve data-driven decision-making.

One of the most notable initiatives in this year’s program is the introduction of a nationwide accident insurance policy for students, offering coverage of up to NPR 100,000. This initiative will be funded through internal resources and additional support from local governments.