Kathmandu. The Insurance Authority of Nepal (NIA) has recently released the updated data on the insurance claims of the damage caused by the devastating floods in the Bhotekoshi and Trishuli rivers in five districts including Rasuwa. According to the data received by the authority till September 28, 2083, a total of 2,180 insurance claims have been received due to floods. According to this, the total estimated claim amount has reached Rs 20.98 billion. Out of this, only Rs 67,48,000 has been paid so far.
According to preliminary and estimated claim details received till September 26 due to the devastating floods in Bhotekoshi and Trishuli on September 27, a total of 2,180 claims have been received by non-life insurance companies.
Earlier, the authority had also included the data of risk exposure (potential risk) and had published the initial loss amount of Rs. 25.87 billion and more than Rs. 25.87 billion. When Insurance Khabar sought clarification about the data, the authority had said that there was an error in the publication of the data and the initial loss figure was about 17 billion.
Highest amount claimed in Himalayan Everest, highest number of peaks{
On a company basis, Himalayan Everest Insurance has received the highest claim amount. The company has received an estimated claim of Rs. 6.27 billion from 159 claims. Shikhar Insurance is ahead in terms of number of claims. Shikhar Insurance has 401 claims, with a total estimated amount of Rs. 29,954. 64 lakhs. Shikhar Insurance has paid Rs. 26,63,000 so far.
Biggest loss in property insurance
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In terms of the type of insurance policy, the largest amount of claim has been received in the property insurance category. Under property insurance, 518 claims have been received, with an estimated amount of Rs 9.41 billion. Rs 38,14,000 has been paid under this head. Similarly, there have been 165 claims under engineering and contractor risk insurance, with an estimated loss amount of Rs 4.41 billion.
In terms of numbers, the motor insurance company has the highest number of claims with 1,066 claims, with an estimated amount of Rs 3,07,93,88,000.
It is estimated that the number and amount of insurance claims may increase further as the exact details of the physical and infrastructure damage caused by the floods are being collected. The authority has already directed the insurance companies to proceed with the claim payment process easily and expeditiously for the general public and the insured.
