Data released by the Nepal Insurance Authority confirms that 15 non-life insurance companies received a total of 583 claims through Monday. The catastrophic August 26 flood caused extensive infrastructure destruction, placing the heaviest burden on large-scale developmental projects. Engineering and contractors’ risk insurance dominated the potential liabilities, with just 52 claims accounting for Rs. 20.51 billion of the total loss.
Property damage and vehicle losses also contributed significantly to the financial toll. Insurers logged 113 property insurance claims worth Rs. 2.35 billion, alongside 313 motor insurance claims totaling Rs. 1.55 billion. Additionally, 47 transport insurance claims accounted for Rs. 897.74 million, while 54 miscellaneous claims totaled Rs. 529.29 million. Four health insurance claims valued at Rs. 4.16 million were also filed.
The financial distribution of the claims varies widely among individual providers. The Oriental Insurance Company recorded the highest exposure in monetary terms, managing eight claims estimated at a massive Rs. 13.04 billion. United Ajod Insurance registered 38 claims valued at Rs. 4.97 billion, followed by Sanima GIC Insurance with 102 claims worth Rs. 2.10 billion, and Siddhartha Premier Insurance with 67 claims totaling Rs. 1.89 billion.
Shikhar Insurance received the highest overall volume of requests, processing 127 claims amounting to Rs. 1.88 billion. Moderate to minor losses were dispersed among several other firms. Himalayan Everest Insurance logged 45 claims worth Rs. 647.8 million, Neco Insurance recorded 66 claims totaling Rs. 517 million, and Sagarmatha Lumbini Insurance faced 32 claims valued at Rs. 242.3 million. Nepal Insurance logged 32 claims worth Rs. 238 million, IGI Prudential received 26 claims amounting to Rs. 187.3 million, NLG Insurance registered 21 claims worth Rs. 113 million, and Prabhu Insurance received 14 claims valued at Rs. 31.2 million. Minor claims were reported by Rastriya Beema Company, National Insurance, and Nepal Micro Insurance.
Assessments remain ongoing as surveyors evaluate the physical damage on the ground to determine final settlement amounts.
