Kathmandu. In the second week of October last year, floods and landslides triggered by incessant rains caused huge loss of lives and property. Even after nine months of floods and landslides, insurance companies have paid only about 40 percent of the claim amount.
After a long time, the Nepal Insurance Authority (NEA) has made public the updated details related to insurance claims and payments for the damage caused by floods and landslides. NeA has made public the details of insurance claims and payments made in 14 non-life insurers and four micro-life insurers as of June 30.
According to the data, 3,712 claims have been made in 18 companies. The companies have to pay Rs 12.27 billion for these claims.
According to nea data, these insurance companies have paid Rs 4.87 billion for 3,065 claims. The companies have paid only 39.71 percent of the total claim amount.
Similarly, according to nea’s statistics, the companies are yet to pay Rs 6.69 billion to the companies with 696 claims.
According to the NRA data, Siddhartha Premier Insurance is the highest claim payment payer. The company has paid Rs 1.67 billion for 428 claims. Now the company is yet to pay Rs 804.2 million for 86 claims.
Shikhar Insurance is the second highest bidder. The company has paid Rs 562.5 million for 458 claims so far. The company is yet to pay Rs 558.2 million for 49 claims.
Similarly, Sagarmatha Lumbini Insurance is the third highest claim payer. The company has paid Rs 516.9 million for 357 claims. The company is yet to pay Rs 577.3 million for 89 claims.
Claim payment details of insurance companies
