Section 92: Qualifications of Insurance Mediators

1) The qualification of insurance mediators shall be as prescribed by the Nepal Insurance Authority.

2) Before acquiring the license, insurance mediators must pass the prescribed examination.

3) The license of insurance brokers or third-party insurance facilitators shall be granted only to the following corporate bodies incorporated as per prevailing laws:

(a) With the authorised capital as prescribed by the Nepal Insurance Authority,

(b) The person working as the General Manager of the corporate body shall have 4 years of experience in the Insurance Business,

(c) Meeting other criteria as specified by the Nepal Insurance Authority.

4) The provisions regarding insurance mediators and other insurance service providers shall be as prescribed.