So far, only 12 percent of insurance claims for damage caused by floods and landslides have been paid out. Although Nepal Insurance Authority, the regulatory body of the insurance sector, instructed the companies not to delay the payment of insurance claims for damages caused by special circumstances like floods, data shows that there have been very few claims so far.

The authority had already instructed to shorten the process and give payment through a short way (fast tack), saying that when devotees give simple and quick claims in difficult situations, public confidence in insurance will increase. However, the insurance authority said that the claims were paid much less than expected.

As of last Thursday (11th of August), 3,676 applications (claims) worth 12.88 billion 93 million rupees have been claimed for the damage caused by the flood and landslide that occurred in the second week of last October. However, so far only claims equal to 1.52 billion 1.8 million have been paid. This is only about 11.80 percent of the claimed amount. According to the data of the insurance authority, claims worth 1.5 billion rupees have been paid out of 1,720 claims till last Thursday. Even though the insurance authority has instructed to pay the claims due to the flood damage quickly, looking at the allowance amount, it is confirmed that the instruction has not been implemented effectively.

Out of the claims made till last Thursday, 1773 claims equal to 9 billion 245 million rupees are under property insurance, in which 748 claims equal to 1 billion 1158 million 34 thousand rupees have been paid. Under engineering and contractor risk insurance, 321 claims worth 2.875 billion rupees have been made. But so far only 50.7 million 10 thousand rupees have been paid in 61 claims. The remaining claims are under motor insurance (private), motor insurance (public), marine insurance, agricultural crop insurance, livestock insurance and miscellaneous, according to the authority's data. Very little has been paid in those insurances.