The recent floods and landslides in Nepal have led to insurance claims worth Rs 3.78 billion. These claims were filed by individuals and businesses affected by the heavy rainfall that struck between October 3 and 5.
Heavy rain caused widespread damage
Continuous rainfall during those days caused severe floods and landslides in many districts, destroying houses, roads, farms, and vehicles. According to the Nepal Insurance Authority, a total of 434 insurance claims were submitted across different sectors.
Out of all the claims, 382 were for property insurance, 92 for engineering and contractor risks, 209 for agriculture and crop damage, 37 for private motor insurance, 10 for public motor insurance, 3 for marine insurance, and 1 for other categories.
Most affected districts
The damages were reported from 37 districts. Sunsari alone recorded 197 claims, followed by Morang with 90, Kathmandu with 80, Ilam with 60, Parsa with 71, Jhapa with 20, and Rautahat with 28 claims.
Officials said that natural disasters have been increasing, leading to a sharp rise in insurance claims every year. Before this, damages from the protests on September 8 and 9 resulted in claims worth Rs 23.23 billion. Similarly, floods and landslides in June caused insurance claims totaling Rs 985.9 million.
Currently, 14 non-life insurance companies and 4 micro non-life insurance firms in Nepal are processing these claims, showing how natural calamities are putting growing pressure on the insurance sector.
