Himalayan News Service

Kathmandu, April 24:

The third executive level meeting of South Asian Insurance Regulatory Forum (SAIRF) concluded here yesterday. Chief of insurance regulatory authorities of India, Bangladesh, Sri Lanka, Bhutan and Nepal took part in the meeting where they discussed gamut of issues related to insurance policies and their result oriented implementations. Participants also discussed formulation of policies, code of conduct and various other sectors for development of insurance industry. Likewise they held talks on how to maintain tariff rate, capacity building of insurance companies, insurance policies and reducing conflicts among insurers. SAIRF was established in 2001 with the objectives of sharing experiences and to bring uniformity in financial information procedure and legal provisions of insurance sector in the South Asian region. The first meeting of the board was held in Sri Lanka and the second meeting was held in New Delhi in 2004. The meeting was chaired by Madhav Prasad Upadhaya, chairman of the Insurance Authority of Nepal.