Claims under property insurance only Rs 7 billion 31 crore 68 lakh
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The Nepal Insurance Authority has learned that there have been insurance claims worth about 9.5 billion rupees for the damage caused by the flood and landslide that occurred in the second week of October. This is the data as of last Tuesday. From last October 10 to October 6, insurance claims worth 9 billion 54 crore 61 lakh rupees were made from 3 thousand 306 applications.
Of the claims made, Rs 7 billion 31 crore 68 lakh is under property insurance. Under engineering and contractor risk insurance, there has been a claim worth 1.74 billion 88 million rupees. The remaining claims are under Motor Insurance (Private), Motor Insurance (Public), Marine Insurance, Agricultural Crop Insurance, Poultry Insurance and Miscellaneous.
Although claims of around 9.5 billion rupees have been made, only around 30.5 million rupees have been paid till Tuesday. According to the insurance authority, claims worth 303.3654 thousand rupees have been paid out of 261 claims. Even though the insurance authority has instructed to pay the claims due to the flood and landslides quickly, there is still a lot of payment to be made considering the short amount.
The Chairman of Nepal Insurance Authority, Surya Prasad Silwal, has already given instructions to arrange that documents such as police reports and recommendations of related bodies are not required among the documents related to payment of claims that are required under normal circumstances due to special circumstances.
The authority has also asked the insurance surveyors to shorten the list of other documents and submit the report within the specified time frame. In the current special situation, the authority has already instructed the insurance companies to pay attention to the fact that the insurance claims may be added gradually and the insurance policies may be lost due to floods and landslides.
As of last Tuesday, among the claims paid, the most 135 claims are under property insurance. There are 84 claims paid in private motor insurance and 21 claims paid in public motor insurance.
So far, there were 838 claims in private motor insurance and 338 in public motor insurance. Provincially, the highest claim is in Wagmati province. So far, claims worth 8 billion 92 crore 39 lakh rupees have been filed through the number of 2 thousand 910 claims in this province. Among them, 291,747,000 rupees have been paid under 242 claims.
Koshi is the second most claimed province. About 336 million 62 million 17 thousand claims have been made through 228 claims in this province. Out of them, 76 lakh 20 thousand rupees have been paid in 9 claims so far. Similarly, in Madhesh, there were 94 claims worth 14 million rupees. 21 lakh 92 thousand rupees have been paid under 8 claims.
In Lumbini, a demand of Rs 9 crore was claimed under 43 claims. 20 lakh 75 thousand rupees has been paid in just one claim. In Gandaki province, out of 27 claims amounting to 54.8 million rupees, not a single one has been paid yet.
As of last Tuesday, two/two claims have been made in Karnali and Sudurpaschim provinces. Among them, no claim has been paid in Karnali province, while one claim in Sudurpaschim province has been paid for Rs 9,100, according to the insurance authority.
