Janakraj Sharma Assumes Office as Chairman of Nepal Insurance Authority, Prioritizes Gen-Z Claim Payments

Kathmandu – The newly appointed Chairman of the Nepal Insurance Authority (NIA), Janakraj Sharma, has called on insurers to expedite the settlement of claims arising from the recent Gen-Z protest, which has triggered the largest insurance payout demand in Nepal’s history.

Sharma issued the directive immediately after taking the oath of office and secrecy before Finance Minister Rameshwor Khanal today.

“The damage caused by the Gen-Z protest has resulted in the largest-ever insurance claim in the Nepali insurance sector. I have instructed all insurers to ensure timely and hassle-free settlement of these claims,” Sharma said.

He stressed that while the claims have created both challenges and opportunities for the industry, their efficient settlement would strengthen public trust in insurance. “If we are able to pay insurance claims smoothly in this situation, confidence in us will grow among citizens. Therefore, it is necessary for all insurers, along with the Authority, to move forward together in resolving claims as soon as possible,” he added.

Sharma also outlined his commitment to making the insurance industry more systematic and transparent, promising to fully activate regulatory mechanisms within the legal framework. Addressing NIA officials, including the Director, he directed staff to ensure strict regulation to facilitate the payment of claims linked to the Gen-Z protest.

Upon assuming office, Sharma further emphasized the need to strengthen Corporate Social Responsibility (CSR) initiatives and assured that no stone would be left unturned in addressing sectoral challenges. He affirmed that companies working in line with the Authority’s policies and guidelines would be treated fairly, while those operating outside the law would face strict action.