Kathmandu. Business is a risk. Sometimes events such as natural disasters, fires, cyber-attacks, or lawsuits can destroy the stability of a business in an instant. In such a situation, commercial insurance becomes the main hope for survival. This not only gives the company confidence in its long-term plans.
In Nepal, floods and landslides triggered by incessant rainfall in the second week of September last year, Jenji Agitation on September 7 and 24 this year and floods and landslides following incessant rains on October 1 and 18 this year have caused huge loss of life and property. In Nepal, many entrepreneurs still see insurance as an additional expense. But, in reality, if a sudden accident destroys the entire business, insurance becomes the only hope for survival.
Insurance is now essential in every area from employee safety to customer trust, credit and investment. Entrepreneurs, therefore, should view insurance not just as an expense but as part of a strategic business plan.
At the state level, it is necessary to ensure insurance benefits for small and medium-sized enterprises in simple terms. Insurance companies should also provide transparency, faster claim payments, and modern risk coverage. Insurance is no longer optional for the survival of the business. It has now become a necessary basis for sustainable development.
