Insurance worth Rs 3.78 billion claimed for flood and landslide-induced damage

Kathmandu, Nov 8: Insurance companies have received claims worth Rs 3.78 billion for the damage incurred due to the floods and landslides triggered by heavy rainfall across the country.

The incessant rains from October 1 to 3 caused loss of life and property. According to Nepal Insurance Authority, a total of 434 insurance claim applications have been received.

The claims include 382 related to assets, 92 concerning engineering and contractor risk, 209 agriculture and crop damage, 37 motor insurance (private), 10 motor insurance (public), and three marine-related insurance coverage.

Insurance claims have been received in a total of 37 districts for compensation for the damage incurred. The highest number of insurance claims of 197 has been received in Sunsari. Similarly, 60 claims have been received in Ilam, 80 in Kathmandu, 90 in Morang, 20 in Jhapa, 71 in Parsa, and 28 in Rautahat.

According to the authority, insurance claims worth Rs 23.23 billion have been filed for the damage caused by the Gen-Z protests on September and 9. Similarly, insurance claims worth Rs 985.9 million were filed for the damage caused by the floods and landslides during the previous monsoon.

With the increase in losses caused by natural hazards, insurance claims filed with insurance companies have also increased significantly.  (RSS)