Insurance companies in Nepal have received compensation claims totaling Rs 3.78 billion for damages caused by the floods and landslides that occurred in October.
The continuous rainfall from October 3 to 5 resulted in significant loss of life and property across several districts. According to the Nepal Insurance Authority , a total of 434 insurance claims have been filed so far.
These include 382 property insurance claims, 92 engineering and contractor risk claims, 209 agriculture and crop insurance claims, 37 private motor insurance claims, 10 public motor insurance claims, one miscellaneous insurance claim, and three marine insurance claims.
Claims have been filed from 37 districts affected by the disaster. Sunsari recorded the highest number of claims at 197, followed by Morang (90), Kathmandu (80), Ilam (60), Parsa (71), Jhapa (20), and Rautahat (28).
The Insurance Authority also reported that losses from other incidents this year had generated substantial claims as well.
Damages from the September 8–9 protests led to insurance claims worth Rs 23.23 billion, while floods and landslides in June prompted claims worth Rs 985.9 million.
Officials said that the rising frequency of natural disasters has significantly increased the volume of insurance claims.
At present, 14 general insurance companies and four non-life microinsurance companies in Nepal have received applications for compensation.
Source - https://english.nepalnews.com
