Kathmandu, May 16
Chairperson of the
Nepal Insurance Authority (NIA) Chandrakala Paudel said that policy reforms
related to insurance, along with the protection of policyholders’ interests,
timely settlement of claims, and the delivery of quality services, should be
prioritised to promote development and to expand the reach of insurance.
Speaking at the 58th
anniversary of the NIA held in Lalitpur on Friday, she said that in the days
ahead, the Authority would move forward sustainably by addressing shortcomings
at the policy level while prioritising the protection of policyholders’
interests.
Institutional
strengthening of insurers, risk-based supervision, the promotion of good
governance, and digital transformation will also be the priority.
Paudel further
noted that policy and institutional cooperation with policyholders, insurers
and other concerned agencies and organisations had played a significant role in
the development of the insurance sector.
“The NIA will move
ahead in a new manner based on suggestions from all stakeholders,” she said.
Executive Director
of the NIA, Sushil Dev Subedi, said that the insurance sector regulator remained
committed to making the insurance sector more inclusive, digital, risk-aware
and a partner in economic development.
According to him, the
Authority had made regulation and inspection more effective to strengthen
governance and discipline within the insurance sector. Subedi also said that
the NIA had made significant progress this year in the areas of internal
governance, institutional strengthening and capacity enhancement.
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