Nepal Insurance Authority Settled 64 Cases in Seven Months; Here’s the Overview of its Overall Judicial Performance

Kathmandu — The Nepal Insurance Authority, which regulates the insurance sector, has been giving high priority to resolving applications and complaints related to insurance disputes.

Even during the period when the judicial process has been hit by delays and disputes over the appointment of the chairperson, the insurance authority continued to prioritize the settlement of cases.

According to Bima Pratibimb published by the Nepal Insurance Authority, “A total of 91 cases were registered at the office of the Nepal Insurance Authority till the end of Magh this year. During this period, 65 cases were registered at the central office, while 26 cases were registered at the provincial offices.” In addition to this, 394 cases were carried over from the previous year, taking the total to 485 cases.

As of the end of Magh this year, the insurance authority issued verdicts in 46 cases and facilitated settlements in 18 others. However, the number of complaints settled by the insurance authority has decreased compared to the previous year. During the same period last year, the insurance authority issued verdict 85 complaints and facilitated settlements in 56 cases.

As of the end of Magh in the current fiscal year, 421 complaints remained pending. Similarly, the number of pending cases is higher than the previous fiscal year. Until the end of Magh of the last fiscal year, 394 cases were still pending.

The issue related to the appointment of the chairperson of the Nepal Insurance Authority, as well as the appointment of six different chairpersons within a year, has not only affected administrative affairs but also judicial affairs. To resolve hundreds of complaints related to insurance, the authority has even established judicial benches.

For a long time, the authority has faced difficulties in decision-making and performing duties due to the lack of the required quorum in the board of directors.

The Nepal Insurance Authority has appointed Chandrakala Paudel as its the chairperson. She is the first woman in the history of the Nepal Insurance Authority to have held the position of chairperson. Now that the chairperson has been appointed and the required quorum of board of directors is fulfilled, the authority is expected to resolve judicial as well as decision-making affairs quickly.