Kathmandu, Oct. 17
The total insurance
claims for physical and other damages caused by continuous rainfall, flooding,
and landslides up until October 4 in the country have amounted to approximately
Rs. 3.26 billion.
According to the life
insurance companies, a total of 704 insurance claims have been received from 13
non-life insurance companies and 2 small non-life insurance companies, with an
estimated claim amount of Rs. 3.26 billion, the Nepal Insurance Authority (NIA)
informed in a statement on Friday.
The highest number of
claims – 364 – has been recorded in property insurance, followed by
agricultural and crop insurance with 209 claims. A total of Rs. 2.7 billion
worth of claims have been made under property insurance alone.
Additionally, 87 claims
have been made under engineering and contractor risks, and 33 claims have been
received for private motor insurance.
Nine claims have been
received for public motor insurance, and two claims have been made under other
types of insurance, as reported by the authorities.
Meanwhile, a total of
3,166 insurance claims, related to physical and other damages during the Gen Z
protests, have been made with 14 non-life insurance companies and 4 small
non-life insurance companies, amounting to approximately Rs. 23.2 billion in
claim amounts. According to the non-life insurance companies, the total claims
amount received so far, including advance payments, is Rs. 2.01 billion.
In the non-life sector, for
the evaluation and monitoring of claims related to physical and other damages
during the movement, a total of 2,791 claims have been surveyed, and surveyors
have submitted reports for 654 of them.
Likewise, Nepal
Reinsurance Company received a total of 2,733 reinsurance claims from non-life
insurance companies, amounting to approximately Rs. 15.76 billion. The
reinsurance company has provided advance payments of about Rs. 1.63 billion to
the non-life insurance companies.
Additionally, the
reinsurance company has dispatched joint insurance surveyors for the evaluation
and monitoring of 60 claims.
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