Insurance Agents’ Association Demands Halt to Incentive Cuts, Questions Regulator’s Role

Kathmandu — The Professional Insurance Agents Association Nepal has demanded an immediate halt to cuts in incentive payments to agents after life insurance companies began reducing the amounts they provide.

The association has objected to what it says is the Nepal Insurance Authority’s failure to intervene despite the cuts directly affecting agents’ incomes.

It has urged the authority to instruct insurance companies not to reduce the incentives. However, agents say the authority’s Executive Director, Sushil Subedi, maintained that new directives could not be issued before a chairperson was appointed.

Chandrakala Paudel is currently serving as the authority’s acting chairperson. Agents have questioned the regulator’s position, arguing that the absence of a permanent chairperson should not be used as a reason to avoid its responsibilities.

Warning that the cuts could affect agents’ earnings and professional stability, the association has called on the authority to issue clear directives without delay and ensure uniformity in incentive-related arrangements.