The Nepal Insurance Authority (NEA) held a discussion and interaction programme on insurance with the Koshi Provincial Government.
During the event, Koshi Province chief minister Hikmat Kumar Karki announced that the provincial government will establish a high-level committee to explore ways to expand insurance coverage and develop a dedicated state-level insurance policy.
During the programme, Mr Karki emphasised the government’s commitment to expanding insurance coverage. He announced plans to prioritise bringing citizens, especially low-income groups under the insurance umbrella and to promote home insurance as an alternative to providing post-disaster relief in the upcoming fiscal year.
Chief Minister Karki also stressed the importance of timely claims settlement in building public trust in insurance. He called on the Nepal Insurance Authority to take action against companies that delay claim payments.
Nepal Insurance Authority Chairman Sharad Ojha expressed appreciation for the Koshi State Government’s proactive approach in advancing insurance in line with the Insurance Act and related regulations. He reiterated that insurers have been instructed to settle claims promptly and shared that steps are underway to introduce elephant insurance, addressing the risks posed by wild elephants in buffer zones and rural areas.
Mr Ojha further stated that the Authority is working on launching an insurance awareness campaign across all provinces by developing a bundled insurance product. He urged the state government to support efforts to extend coverage to informal sector workers and low-income populations.
Also speaking at the event, NEA Director Nirmal Adhikari delivered a presentation on the importance of insurance, the current status of the domestic insurance market, and the critical role of provincial governments in its growth and outreach.
Participants at the discussion recommended that the Nepal Insurance Authority draft a model state insurance policy applicable across provinces. They also called for greater coordination between federal and provincial governments in expanding insurance access, swift rollout of elephant insurance for high-risk areas, and stricter enforcement to ensure timely claim settlements.