Non-Life Insurance Companies Pay Rs 3.56 Billion in Flood and Landslide Claims

Kathmandu – Non-life insurance companies have paid a total of Rs 3.56 billion in claims following the damage caused by the floods and landslides that occurred last September. According to the Nepal Insurance Authority, the claims were settled by March 5, covering a total of 2,478 cases.

The floods and landslides have led to claims amounting to Rs 12.64 billion, with 3,728 claims filed so far. Among the non-life insurance companies, Siddhartha Premier Insurance has paid the highest amount, settling Rs 582.7 million for 173 claims during this period.

The Oriental Insurance settled Rs 112 million for 20 claims, while Sagarmatha Lumbini Insurance distributed Rs 395.5 million for 170 claims. Shikhar Insurance settled 93 claims, paying out Rs 477.3 million. Similarly, Himalayan Everest Insurance paid Rs 251.6 million for 102 claims, NLG Insurance paid Rs 146.3 million for 91 claims, and Sanima GIC Insurance settled 105 claims, distributing Rs 183.8 million. Neco Insurance paid Rs 236.5 million for 86 claims.

IGI Prudential Insurance settled 70 claims, paying Rs 261.6 million, while United Ajod Insurance distributed Rs 257.8 million for 175 claims. Nepal Insurance and National Insurance settled claims worth Rs 58.9 million and Rs 46.6 million, respectively.

The claims have been made in 14 large and four micro non-life insurance companies currently in operation. Out of the total paid claims, property insurance alone accounted for Rs 2.20 billion. Engineering insurance claims amounted to Rs 302.4 million, while motor insurance claims reached Rs 253.7 million for private vehicles and Rs 252.7 million for public vehicles. Additionally, marine insurance claims amounted to Rs 178 million, agriculture and livestock insurance and other claims stood at Rs 139 million.