Kathmandu. KATHMANDU: Nepal Life Insurance Company (NLIC) has issued a circular directing the insurance company not to take action against its agents.
Nepal Insurance Authority (NEA) has directed insurance agents and intermediaries not to make false and misleading and exaggerated publicity related to insurance.
Issuing a circular on Monday, the mediator management section of the NRA directed the government to immediately stop the publicity that violates the Insurance Act, 2079 BS and the code of conduct.
According to the NRA, complaints and complaints have been received at the Authority for spreading misinformation affecting the business of various insurance companies. Clause 19 of the Insurance Agents Directive, 2083 (2083) prohibits false and exaggerated publicity about the capacity or business of the insurer it represents.
The NRA has warned of taking stern action as per the prevailing laws if such activities recur in the coming days. The authority has also urged the authorities to follow the regulatory framework and code of conduct for healthy competition, reliable information dissemination and protection of interest of the insured. View this:
