Out of a total initial claim amount of Rs 4.18 billion 2.6 million, a total of 96 claims have been paid so far, informed the Authority's spokesperson Sushildev Subedi.
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Insurance payments of Rs 111.5 million have been made so far for physical and other damages caused by incessant rains and floods.
According to the Insurance Authority, a total of 790 initial insurance claims have been filed with non-life insurance companies so far for physical and other damages caused by incessant rains and floods since October 18. Out of the total initial claim amount of Rs 4.18 billion 26 million, a total of 96 claims have been paid so far, informed the Authority's spokesperson Sushildev Subedi.
According to the updated data received from 13 different non-life insurance companies and two small non-life insurance companies, 33 out of 417 initial claims have been paid by non-life insurance companies for property insurance. There were claims worth Rs 3.58 billion 32 million for property insurance. According to the Authority, a total of Rs 96.4 million has been paid for those claims.
Similarly, out of 107 insurance claims worth Rs 515.7 million for engineering and contract risk insurance, a total of seven claims worth Rs 900,000 have been paid to nine hundred thousand insureds. There were 210 insurance claims for agriculture and crop insurance. Out of the total claim amount of about 41.4 million, a total of 42 claims have been paid at 1.9 million.
Similarly, out of the total claim amount of about 28.2 million of 40 insurance claims under motor insurance (private), a total of 12 claims have been paid at 12.2 million. Out of the initial claim amount of 1.1 million of four insurance claims under marine insurance, the Authority has stated that two claims have been paid at 30.00 million to the insured.
Similarly, the payment process for 10 claims under motor insurance (public) worth Rs. 11.9 million and two claims under microinsurance worth Rs. 1.2 million has not yet begun, the Authority has stated that it has received updated information from non-life insurance companies.
