Nepal Insurance Authority Directs Swift Settlement of Riot-Related Claims

Kathmandu – The Nepal Insurance Authority has instructed all non-life insurance and non-life micro-insurance companies to expedite the settlement of insurance claims for damages incurred due to the recent riots in Kathmandu Valley on Chaitra 15 (March 28).

In a directive issued today, the Authority emphasized the need for timely claim processing, considering the losses and disruptions faced by the insured. It has mandated insurers to ensure swift and efficient resolution of claims related to property damage caused by the unrest.

Additionally, insurance companies are required to submit detailed reports on the extent of the damages on a weekly basis. These reports, formatted in Excel spreadsheets, must be submitted every Wednesday through a Google Form link provided by the Authority.