Nepal Insurance Authority Chairman Urges Stakeholders to Restore Public Trust

Kathmandu — Nepal Insurance Authority Chairman Sharad Ojha has called on all stakeholders in the insurance sector—including insurers, agents, employees, and surveyors to work diligently to build and restore credibility among citizens.

Speaking today at a Pharabhat Pheri (morning march) held to mark the 57th anniversary of the Nepal Insurance Authority, Chairman Ojha acknowledged the widespread shortcomings in the insurance industry and emphasised the urgent need for reform.

“There are thousands of shortcomings in the insurance sector these days. It cannot be made zero all at once, but the shortcomings should be gradually removed,” he said.

He also pledged to systematically reduce the number of complaints related to claim settlements in both life and non-life insurance, aiming ultimately to bring the figure down to zero.

Chairman Ojha on highlighting ongoing outreach efforts, he said the Insurance Authority has been working in various rural municipalities, which has helped increase credibility and expand the authority’s reach.

Ojha also questioned the priorities of insurers, stating that many companies focus only on the insurance mandated by the government, rather than addressing broader needs. He stressed that insurance should be viewed as a tool that protects ordinary citizens from falling into debt during times of crisis.