Nepal to Launch Wildlife Insurance Scheme with Up to Rs. 1 Million Cover

Kathmandu — The Nepal Insurance Authority has approved a new insurance policy designed to cover losses caused by wildlife attacks, bringing human, agricultural, and property damage under the country’s formal insurance system. The policy will come into effect from July 17.

The scheme has been introduced in response to long-standing calls from provincial and local governments, the Department of National Parks and Wildlife Conservation, national parks, and other stakeholders seeking a structured mechanism to compensate victims of human-wildlife conflict.

According to the Authority, the policy was developed following consultations with provincial and local governments, officials from national parks and protected areas, buffer zone user committees, community forest user groups, wildlife experts, and residents of affected communities.

Data from the Department of National Parks and Wildlife Conservation show that wildlife attacks regularly result in fatalities, injuries, damage to homes and other physical structures, destruction of crops, and livestock losses. The government currently distributes more than Rs. 150 million in relief payments each year, while total compensation over the past five years has reached nearly Rs. 780 million.

Under the new policy, beneficiaries will receive up to Rs. 1 million for accidental death or permanent total disability caused by a wildlife attack. Coverage includes up to Rs. 500,000 for temporary total disability, Rs. 100,000 for treatment of serious injuries, and Rs. 20,000 for minor injuries. The annual premium has been fixed at Rs. 1,500.

The policy also provides property and agricultural protection, offering compensation of up to Rs. 500,000 for damage to houses and other physical structures, Rs. 100,000 for the loss of livestock raised for agricultural purposes, and Rs. 50,000 for crop damage.

The insurance policy will remain valid for one year, with coverage continuing throughout the policy period even if only one insured event occurs. If ownership of an insured house or livestock changes, insurers will be required to transfer the policy to the new owner free of charge. The guidelines also require insurers to facilitate claims even if the policy document has been lost.

In cases involving death, insurers must release Rs. 50,000 within seven days to cover funeral and last rites expenses.

Policyholders will be required to notify the insurer within 48 hours of a wildlife-related incident, after which the insurer must immediately begin the claims process.

The policy covers damage caused by a wide range of wild animals, including elephants, rhinoceroses, tigers, bears, leopards, jackals, deer species, wolves, wild dogs, wild boars, wild water buffaloes, crocodiles, gaur, pythons, blue bulls, monkeys, porcupines, and blackbucks, among others.

According to the Insurance Authority, all licensed non-life and micro non-life insurers will be permitted to issue the new wildlife insurance policy from July 17 onward.