Kathmandu. Chief Minister of Koshi Province Hikmat Kumar Karki has said that the state government would form a high-level committee to study the expansion of the scope of insurance and bring the state insurance policy.

Speaking at a discussion and interaction programme on insurance with the Koshi state government at the Office of the Chief Minister and Council of Ministers in Koshi Province, Chief Minister Karki pledged to give priority to bringing the citizens under the ambit of insurance, insuring the low-income people and advancing home insurance instead of distributing relief in the coming fiscal year.

Stating that confidence in insurance would not increase unless insurance companies pay insurance claims on time, Chief Minister Karki said that the AUTHORITY should take action against the companies that do not pay the claims on time.

Chairman of Nepal Insurance Authority Sharad Ojha said that the initiative shown by the state government to advance insurance as per the provisions of the Insurance Act and Regulations is commendable. Chairman Ojha said that the insurance companies have been instructed to pay the insurance claim on time and necessary work is being done to bring elephant insurance keeping in mind the risk from wild elephants in the intermediate areas.

Stating that the NRA would take initiative to run the insurance campaign in all the provinces by developing a ‘bundle product’, Chairman Ojha urged the state government to make necessary arrangements to bring the informal sector workers and poor people under the ambit of insurance.

On the occasion, Director of Nepal Insurance Authority Nirmal Adhikari made a presentation on the importance of insurance, the current situation of the insurance market and the role of the state government in the development and expansion of the insurance sector.

On the occasion, the participants opined that the Insurance Authority should prepare a draft common state insurance policy for all the provinces, there should be collaboration between the union and the state for the development and expansion of insurance, elephant insurance should be brought for the areas affected by wild elephants and there should be no delay in the payment of insurance claims.