Kathmandu. Current fiscal year 2082. Insurance companies have paid more than Rs 44.15 billion in claims in the first eight months of 2018-19.
According to the Insurance Reflection released by the Nepal Insurance Authority, insurance companies have paid a total of Rs 44.15 billion claims till mid-March of the current fiscal year. Out of which Rs 26.84 billion has been paid by life insurance companies. This payment is of 1,25,830 claims.
In the previous fiscal year, life insurers had paid Rs 28.25 billion for 182,621 claims. Compared to the previous year, the number of claim payments of life insurers decreased by 31.10 percent and the amount decreased by 4.99 percent in the review period.
Similarly, till mid-March of the current fiscal year, the non-life insurers have paid Rs 17.30 billion for 94,215 claims. In the same period of the previous year, the non-life insurers had paid Rs 14.09 billion for 88,292 claims.
The number and amount of claims of non-life insurers increased by 6.71 percent and 22.84 percent respectively in the review period as compared to the previous year.
The claim payment amount of non-life insurers has increased due to the huge loss caused by the Jenji agitation in August and the floods and landslides of September.
How many claims are still due?
According to the data till mid-March of the current fiscal year, life and non-life insurers are yet to pay claims of Rs 65.09 billion. Out of this, life insurers have collected Rs 5.75 billion for claims of 62,323 claims and non-life insurers have filed Rs 59.33 billion for claims of Rs 117,719.
