Flood and Landslide Insurance Claims Reach Rs 12.86 Billion
Kathmandu – Insurance companies in Nepal have reported claims amounting to Rs 12.86 billion due to damages caused by floods and landslides following incessant rains in the month of September last year. According to the Nepal Insurance Authority, a total of 3,686 claims have been filed, with Rs 1.78 billion already paid for 1,809 claims.
Property insurance claims accounted for the largest share, with 1,774 applications filed, totaling Rs 9.22 billion. Similarly, engineering and contractor risk claims amounted to Rs 2.84 billion from 324 applications. Private motor insurance saw 954 claims amounting to Rs 415.34 million, while public motor insurance recorded 393 claims worth Rs 289.92 million.
Marine insurance received 23 applications with claims of Rs 44.97 million, livestock insurance received 60 applications worth Rs 38.25 million, and agricultural crop insurance recorded 137 claims totaling Rs 10.05 million. Miscellaneous insurance claims amounted to Rs 7.6 million from 21 applications.
Regional data reveals that out of 267 claims filed in Koshi Province, 158 have been paid. In Madhesh, 37 out of 108 claims have been settled, while Bagmati Province, the most affected, reported 3,213 claims with 1,585 payments made. In Gandaki, only 15 of 47 claims have been settled. In Karnali and Sudurpaschim, four of eight claims and three of six claims have been paid, respectively.
