Bhotekoshi–Trishuli Floods May Trigger Over Rs 25.87 Billion in Insurance Claims
The Bhotekoshi and Trishuli floods are estimated to generate more than Rs 25.87 billion in preliminary insurance claims across Nepal’s non-life insurers.
The damage caused by floods in the Bhotekoshi and Trishuli rivers is estimated to result in more than Rs 25.87 billion in preliminary insurance claims across various non-life insurance companies.
According to preliminary data received by the Nepal Insurance Authority up to Bhadra 15, a total of 583 insured parties have been affected by the floods. The estimated insurance claims related to the reported losses amount to more than Rs 25.87 billion.
Company-wise Estimated Claims
The Oriental Insurance Company is expected to face the largest preliminary claim exposure, with estimated claims of Rs 13.04 billion.
Similarly, United Ajod Insurance is estimated to face claims worth Rs 4.97 billion, while Sanima GIC Insurance may receive claims of around Rs 2.10 billion.
Preliminary claims at Siddhartha Premier Insurance are estimated at Rs 1.88 billion, while Shikhar Insurance could face claims of approximately Rs 1.87 billion.
Among other insurers, Himalayan Everest Insurance is estimated to face claims of Rs 647.8 million, Neco Insurance Rs 517 million, Sagarmatha Lumbini Insurance Rs 242.3 million and Nepal Insurance Rs 238.6 million.
Meanwhile, estimated claims stand at Rs 187.3 million for IGI Prudential Insurance, Rs 113.1 million for NLG Insurance, and Rs 31.2 million for Prabhu Insurance.
The preliminary data also indicates estimated claims of Rs 7.6 million for Rastriya Beema Company, Rs 5.335 million for National Insurance, and Rs 500,000 for Nepal Micro Insurance.
Final Claims Yet to Be Determined
The figures are based on preliminary information received by the Nepal Insurance Authority as of Bhadra 15. The actual amount of insurance claims will be determined after detailed damage assessments and the completion of the claims settlement process.