Should the Insurance Authority regulate itself or will it be known only after others give instructions?

english.insurancekhabar.com · 2 days ago

The Nepal Insurance Authority's regulatory actions are being questioned following investigations into seven insurance companies, prompted by the Department of Money Laundering Investigation. The Authority is criticized for its delayed response to irregularities, including the distribution of primary shares and the sale of insurance policies below prescribed rates, which were only addressed after directives from other government bodies. Concerns are raised about potential conflicts of interest and personal gains among Authority officials, impacting its image and regulatory effectiveness.