Insurance Agents Seek Clarity From Authority on Incentive Payments

Kathmandu — The Professional Insurance Agents Association Nepal has urged the Nepal Insurance Authority to clarify arrangements governing incentive payments to life insurance agents following reports that some companies have reduced them.

The association has asked the Authority to issue necessary directions to insurance companies. During discussions, Authority Executive Director Sushil Subedi reportedly said new directions could not be issued because a permanent chairperson had not yet been appointed.

Agents questioned this position, noting that the Authority continues to issue other regulatory directives. Chandrakala Paudel is currently serving as Acting Chairperson on behalf of the Government of Nepal.

The association said changes to incentive payments could affect agents’ income and professional stability and urged the Authority to provide clear and consistent guidance to insurers.

It also noted that agents play an important role in life insurance distribution and that changes to their compensation could affect the broader agency system.