Insurance Agents and Nepal Insurance Authority Agree to Form Working Group

Kathmandu – The Professional Insurance Agents Association and the Nepal Insurance Authority have agreed to form a working group to address issues arising from the Insurance Regulations 2081. The agreement follows protests by insurance agents, who claim the new regulations threaten their profession.

The decision was reached during a meeting on last week (March 12) at the Insurance Authority’s office in Kupandol. The working group will include representatives from the Insurance Authority, Professional Insurance Agents Association, Jeevan Binak Sangh Nepal, Nepal Insurers’ Association, Micro Insurance Association, and Surveyor Association. Its task is to review the disputed regulations and submit recommendations to the Ministry of Finance.

Kedarnath Adhikari, President of the Professional Insurance Agents Association, stated that the protest has been postponed following assurances from the Insurance Authority to resolve the agents’ concerns. The working group is expected to prepare a report promptly.

Insurance agents have raised concerns over the regulations, particularly regarding license renewals and incentives, which they argue undermine their profession. If the proposed changes are not implemented, agents have warned of further protests.