Rastriya Swatantra Party MP Lima Adhikari Questions Insurance Sector Irregularities and Regulatory Authority's Capacity
Summary
Rastriya Swatantra Party MP Lima Adhikari criticized financial irregularities in Nepal's insurance sector and questioned the regulatory capacity of the Nepal Insurance Authority, highlighting low insurance penetration and challenges faced by citizens in claims and access.
Key Points
- Rastriya Swatantra Party MP Lima Adhikari questioned irregularities in the insurance sector and regulatory capacity of Nepal Insurance Authority.
- She highlighted low insurance penetration with only 44 percent of the population covered despite 37 insurance companies operating in Nepal.
- MP Adhikari raised concerns over indiscriminate license distribution, pressures for mergers, and possible financial irregularities benefiting select business houses.
- She called for transparency in the use of funds from the Insurance Literacy Fund and concrete plans for digital insurance to improve access in remote areas.
