Nepal Insurance Authority is the sole Regulatory Agency established to systematize, regularize, inspect and supervise insurance business in Nepal. It is an autonomous institution, established as per section 3 of the Insurance Act, 2079 BS, having a legal personality with perpetual succession. The Authority is entrusted with the objective to ensure a fair, competitive, reliable and credible insurance service in Nepal. Similarly, the Authority is also responsible for the regulation of insurance business effectively to protect the rights and interest of policy holders. To carry out these broad objectives, the Authority cooperates and coordinates with various national competent Authorities, private sector, stakeholders, foreign counterparts and international organizations. It is a founding member of International Association of Insurance Supervisors(IAIS).