Discussion Held on Insurance Challenges and Solutions in Koshi Province’s Transport Sector

Kathmandu – A discussion program on insurance policies, challenges, and solutions in the transport sector of Koshi Province was held today in Biratnagar. The event was organized by the Koshi Province Office of the Nepal Insurance Authority.

The program focused on key issues such as existing insurance policies in the transport sector, current challenges, the state of motor insurance, and the implementation of mandatory third-party motor insurance. Participants also discussed complications in the claims process and explored possible solutions. The session was moderated by Assistant Director Sachin Rai.

Speakers highlighted the need for stronger coordination among the Nepal Insurance Authority, the provincial government, police and traffic police, transport management offices, and insurance companies. While participants welcomed the rule that prevents vehicle registration renewal without insurance, they pointed out that claim settlements are often delayed even when all required documents are submitted. According to them, such delays are weakening public trust in the insurance system.

Netralal Thapa from the Koshi Bus Entrepreneurs Association noted that only a few insurers offer a “no-claim discount,” and that this benefit is lost when vehicle ownership is transferred. He also said the claims process is complicated, and in cases where original hospital bills are lost, claims may still be rejected despite submitting certified documents.

Participants also stressed the importance of stricter monitoring and investigation to curb fraudulent insurance practices. The president of the Tanker Entrepreneurs Association raised similar concerns about claim-related difficulties and called on the authority for support in resolving them.

Gopal Dahal, chief of the Transport Management Service Office in Biratnagar, expressed his commitment to helping address the sector’s challenges. He encouraged transport operators and service users to actively participate in insurance schemes to reduce financial risks.

Responding to queries, Priti Dev, head of the Nepal Insurance Authority’s Koshi Province Office, said the office would take necessary steps to address the issues raised. She also urged stakeholders to renew their insurance on time and to familiarize themselves with the claims process.