The monsoon-induced disasters of September 27 and 28 have led to significant damage across Nepal, resulting in insurance claims totaling Rs 11.82 billion. As of mid-November, the Nepal Insurance Authority has reported that Rs 610.79 million has already been paid out based on loss assessments. A total of 3,418 claims have been filed for compensation, with Siddhartha Premier Insurance Company processing the highest number of claims, totaling 501 applications. Other companies have also seen substantial numbers of claims, including The Oriental Insurance Company with 176 claims, Sagarmatha Lumbini Insurance Company with 377, Himalayan Everest Insurance Company with 243, and NECO Insurance with 219 claims. Claims have also been filed with United Ajod (323), Sanima GIC (217), and IGI Prudential (296), along with several other insurers like National Insurance, ALG, Nepal Insurance, Rastriya Beema Company, Star Micro Insurance, Trust Insurance, Nepal Micro Insurance, and Protective Micro Insurance.
While the total claims made so far amount to Rs 8.75 billion, only Rs 467 million has been disbursed, with 902 claims settled. Claims related to hydropower projects, which were severely impacted by landslides and floods, have raised concerns. A total of 304 claims regarding engineering and contractor risks have been filed, and entrepreneurs are urging the Ministry of Energy, Water Resources, and Irrigation to address these pending claims since most hydropower projects had insurance coverage for such risks.
In terms of specific insurance categories, 887 claims were filed for private-sector motor insurance, and 280 of these have been paid out, amounting to Rs 61.7 million. For public-sector motor insurance, 350 claims were filed, with 91 claims settled, totaling Rs 430.02 million. Livestock insurance claims have seen 51 submissions, with 21 claims paid out, totaling Rs 2.49 million. Sea insurance has seen 22 claims, with 2 claims settled. Crop insurance has 131 claims filed, with 65 claims receiving payments. Additionally, 20 miscellaneous insurance claims have been filed, with 7 of them paid out.
The claims are distributed across various provinces, with Bagmati bearing the highest number of claims at 2,968, followed by Koshi with 251, Madhesh with 101, Lumbini with 48, Gandaki with 33, Sudurpaschim with 10, and Karnali with 8 claims. This wide distribution reflects the extensive damage caused by the monsoon, and while a portion of the claims have been settled, much work remains in processing the remaining compensation.
