KATHMANDU, Nov 19: Insurance claims totaling Rs 11.82 billion have been filed for reimbursement following the damage caused by the monsoon-induced disasters on September 27 and 28.
According to the Nepal Insurance Authority, by mid-November, Rs 610.79 million had already been paid out to victims based on loss assessments.
The Authority reported receiving 3,418 claims for insurance compensation. Among the companies, Siddhartha Premier Insurance Company has processed the highest number of claims, with 501 applications. Other companies have also seen significant numbers, with 176 claims filed with The Oriental Insurance Company, 377 with Sagarmatha Lumbini Insurance Company, 243 with Himalayan Everest Insurance Company, and 219 with NECO Insurance.
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Additionally, 323 claims were submitted to United Ajod, 217 to Sanima GIC, and 296 to IGI Prudential, according to the Authority's data. Claims have also been filed with several other insurers, including National Insurance, ALG, Nepal Insurance, Rastriya Beema Company, Star Micro Insurance, Trust Insurance, Nepal Micro Insurance, and Protective Micro Insurance.
As of now, 902 claims have been settled. Of the Rs 8.75 billion in claims made, only Rs 467 million has been paid out. A total of 304 claims related to engineering and contractor risks have been registered, primarily concerning hydropower projects, which were particularly affected by landslides and floods. Entrepreneurs have urged the Ministry of Energy, Water Resources, and Irrigation to address outstanding claims for these projects, as most have purchased insurance for such risks.
So far, 38 claims, amounting to Rs 31.13 million, have been paid under various insurance categories. Of the 887 claims for private-sector motor insurance, payments have been made for 280 claims, totaling Rs 61.7 million. Similarly, of the 350 claims for public-sector motor insurance, 91 claims have been paid, amounting to Rs 430.02 million.
In the case of livestock insurance, 51 claims have been filed, with payments made for 21 claims totaling Rs 2.49 million. Many livestock, including cattle, were either killed or went missing in the floods and landslides. There have also been 22 sea insurance claims, with two of them being paid out.
Regarding crop insurance, 131 claims have been filed, with 65 claims receiving payments. For 20 miscellaneous insurance claims, payments have been made for seven.
The claims are spread across various provinces, with 251 claims in Koshi, 101 in Madhesh, 2,968 in Bagmati, 33 in Gandaki, 48 in Lumbini, eight in Karnali, and 10 in Sudurpaschim.
