A new insurance act has recently been executed. What are the possible positive or negative effect on Nepal’s insurance industry? 

Except for one or 2 problems, the present new insurance law contains an equivalent things that have already been practiced. Insurance Act 2049 and alternative pointers enforced by the then Insurance Board from time to time are consolidated within the new Act. solely the fee for penalty are raised within the new act. The law has authorized the Kingdom of Nepal Insurance Authority. In my opinion, it’ll facilitate the insurance business to maneuver forward within the future.

According to the new act, the provisions for fines area unit relatively high. can it extremely encourage the insurance firms or can it have an effect on alternative ways?
I say it’d encourage for correction. It mustn’t have an effect on in the other method. Why am I scared of after I don’t got to move to the incorrect method. Nothing extremely stops United States of America currently. World Health Organization has restricted Pine Tree State from taking right steps? Is my board directional Pine Tree State to form an error ? Has the corporate executive taught his departments to grab business by any unwell means? No, never. So, the act is there for United States of America.

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