Siddhartha Premier Insurance Begins Claim Settlements for Bhotekoshi Flood Losses

Kathmandu — Siddhartha Premier Insurance has begun settling claims for property damage caused by the devastating flood in the Bhotekoshi River on August 26.

The insurer made its first payment of NPR 6.4 million to Trishuli Fancy Store in Trishuli Bazaar for inventory swept away by the flood.

After receiving the claim settlement document, the shop owner expressed satisfaction with the prompt payment.

“I had heard that insurance claims take a long time to be paid. But receiving the claim payment just 10 days after submitting the required documents showed me that those rumors were unfounded,” the shop owner said.

The shop owner also said the experience had demonstrated the importance of insuring property for its full value, as insurance compensation can make it easier to resume business operations after an unexpected disaster.