The "1% Rule" and the Silent Purge: A Wake-Up Call for Nepal’s Insurance Sector
The recent directive issued by the Nepal Insurance Authority (Nepal Bima Pradhikaran) regarding agent license renewals (dated 2082/01/16) is not merely an administrative circular; it is a seismic shift in the tectonic plates of our nation's insurance landscape. While the Authority frames these changes as a move toward "professionalization," a forensic analysis of the mandates reveals a more complex, and potentially dangerous, reality. We are witnessing a powerful attempt to restructure the market by force—a move that risks purging competent professionals alongside the "dead wood" it intends to clear. It is time to open our eyes to the unexpressed agenda behind the "1% Rule" and ask: Is the Regulator becoming the Sales Manager? The Guillotine: Understanding the New Mandates To understand the gravity of the situation, we must look at the hard lines drawn in the sand by the new circular based on Rule 56(1)(kha) of the Life Insurance Agency License ...