Kathmandu. Now, non-life insurers will be able to issue wildlife risk-focused insurance policies. This insurance policy will provide relief to the families who are at risk of wildlife attack.
Households living near the park are especially vulnerable to wildlife attacks. Nepali people of different areas have been affected by wild animals entering Nepal from the border area of India. Now, this insurance policy will reduce the financial burden to some extent in case of accidents or damages caused by wild animals.
Nepal Insurance Authority (NEA) has prepared this policy in such a way that it can be issued by non-life insurers (including micro insurers). This policy will be a bilateral agreement between the insurer and the insured.
Insurers will be able to issue policies in print or electronically. The risk cover shall be deemed to have commenced from the date and time of issuance of the policy. This policy will be an integrated policy and the term of the policy will be one year.
This insurance policy covers the damage caused by the specified wildlife. The insurance premium has been fixed at Rs 1,500.
Subject matter and sum insured {
}
a. Accident Expenses (up to Rs. 10 lakhs)
- Death in Personal Accident (Rs. 10 lakh)
- In case of total disability (Rs. 10 lakhs)
- Temporary Total Disability (Rs. 5 lakh)
- Drug Treatment Costs
}
}
Seriously injured (up to a maximum of Rs. 1 lakh)
}
General Injury (up to a maximum of Rs. 20,000)
}
b. Damage to houses and physical structures (up to Rs. 5 lakhs)
}
c. Livestock Damage (up to Rs. 1 lakh)
}
d. Agricultural Crop Damage (up to Rs. 50,000)
}
Under this policy, accident expense benefit will be provided to a maximum of two members of the insured family. In addition, the insured shall deduct the amount paid in case of death of the insured and pay the remaining amount for the accident expenses after deducting the amount paid in the condition specified in this insurance policy.
Under this policy, the insurer has to pay the claim in case of an accident caused by the attack of 18 wild animals.
Which wildlife?
Elephants, rhinoceros, tigers, bears, leopards, jackals, antelopes, wolves, wild dogs, wild boars, wild boars, crocodiles, gaurigai, pythons, nilgai, monkeys, porcupines and blackbucks.
Here are the general terms of insurance{
