Nepal Insurance Authorityनेपाल बीमा प्राधिकरण

What does it do?

• “Nepal Insurance Authority is the sole Regulatory Agency established to systematize, regularize, inspect and supervise insurance business in Nepal.” nia.gov.np Introduction
• Established as the regulatory body for insurance business. giwmscdnone.gov.np Insurance Act 2079, s.3(1)
• Its functions include acting as the Government's adviser on insurance, drafting the national insurance policy, granting prior approval and licences to insurers and cancelling them, issuing regulations and directives, licensing insurance intermediaries, and deciding complaints by policyholders against insurers. giwmscdnone.gov.np Insurance Act 2079, s.5(क)-(ङ), (झ)

Which law set it up?

What the law says is summarised with section numbers, not quoted, because text copied from the official PDFs is not reliable.

Law

Insurance Act 2079बीमा ऐन २०७९

Section

Section 3(1) (प्राधिकरणको स्थापना)

Official text

lawcommission.gov.np

History

“As a separate Regulator of the Insurance Sector, Insurance Board (Beema Samiti) was established in 2026 BS for the first time which with the enactment of Insurance Act, 2079 BS is converted into Nepal Insurance Authority .” nia.gov.np Introduction

Who leads it and who oversees it?

Head

Chandrakala Paudel, Chairman nia.gov.np Checked 2026-10-16

Falls under

No official source found stating a supervising ministry. NIA's Introduction says the Board includes a Ministry of Finance joint secretary (Act s.6).

Website

nia.gov.np