In the aftermath of the devastating flood and landslide that struck Rasuwagadhi (Bhotekoshi) on July 8, insurance companies in Nepal are facing a significant wave of compensation requests. According to the Nepal Insurance Authority, a total of 68 claims amounting to Rs 843.8 million (around USD 6.9 million) have been filed with 11 non-life insurance companies, marking one of the most substantial collective insurance events in recent years.
The largest portion of these claims—Rs 580.1 million—falls under property insurance, reflecting the widespread destruction of infrastructure and buildings in the disaster-hit region. Marine insurance, which covers damages to goods in transit and imports, accounts for another Rs 162.3 million in claims. Meanwhile, engineering and contractor risk insurance makes up Rs 54 million, while public and private motor vehicle insurance claims stand at Rs 25.95 million and Rs 21.45 million, respectively.
Among the insurers, Himalaya Everest Insurance received the highest claim amount, though the exact figure is currently unspecified. Shikhar Insurance follows with Rs 168.5 million claimed across 12 cases. Other insurance providers facing sizable claims include Neco Insurance (Rs 51.2 million), Sagarmatha Lumbini Insurance (Rs 26.5 million), Nepal Insurance (Rs 12.85 million), and United Ajod Insurance (Rs 9.1 million).
This disaster has not only left a deep humanitarian and economic impact but also posed a significant test for Nepal’s insurance sector. The scale and speed of claim settlement will likely influence public confidence in the industry, especially in the face of increasing climate-related risks.
