Floods and Landslides Trigger Rs 3.78 Billion in Insurance Claims

Insurance companies have received claims amounting to Rs 3.78 billion for damages caused by floods and landslides triggered by heavy rainfall across the country in early October.

According to the Nepal Insurance Authority, 434 insurance claims have been filed for losses incurred between October 1 and 3, when incessant rains caused widespread destruction of life and property.

The claims include 382 related to property damage, 92 to engineering and contractor risks, 209 to agricultural and crop losses, 37 to private motor vehicles, 10 to public motor vehicles, and three to marine insurance coverage.

Claims were received from 37 districts, with the highest number—197—from Sunsari, followed by 90 from Morang, 80 from Kathmandu, 71 from Parsa, 60 from Ilam, 28 from Rautahat, and 20 from Jhapa.

The Authority said insurance claims have sharply increased in recent months, citing Rs 23.23 billion worth of claims filed for damages during the Gen-Z protests in September and Rs 985.9 million for flood and landslide damages during the monsoon season. -- RSS