Himal Press 
KATHMANDU: Insurance claims arising from the severe flooding along the Bhotekoshi River on August 26 have reached an estimated Rs 20.98 billion across 2,180 policies. According to the latest data released by the Nepal Insurance Authority (NIA), the amount is based on claims received by insurers up to Monday evening.
Insurance companies are facing another massive wave of compensation for losses less than a year after receiving claims worth nearly Rs 23 billion for losses incurred during last September’s Gen Z protests.
So far, non-life insurance companies and micro-insurers have settled Rs 6.74 million in initial, advance, and partial claim payments for the recent flooding.
The NIA data show Himalayan Everest Insurance Ltd has received the highest claims of Rs 6.27 billion from 159 policies. Sanima GIC Insurance Ltd recorded 242 claims totaling Rs 3.50 billion. Four other companies have received total claims exceeding Rs 1 billion each: Shikhar Insurance Company (Rs 2.99 billion), Sagarmatha Lumbini Insurance Company (Rs 1.93 billion), Siddhartha Premier Insurance Ltd (Rs 1.12 billion) and Neco Insurance Company Ltd (Rs 1.01 billion).
Other insurers receiving substantial claims include IGI Prudential Insurance Limited (222 claims totaling Rs 835.07 million), United Ajod Insurance Limited (75 claims totaling Rs 862.20 million), and The Oriental Insurance Company Limited (11 claims worth Rs 823.25 million). Likewise, Nepal Insurance Company Limited registered 131 claims worth Rs 561.15 million, Prabhu Insurance Limited logged 114 claims valued at Rs 503.20 million, and NLG Insurance Company Limited recorded 110 claims worth Rs 461.70 million.
By category, property insurance accounted for the largest financial impact, with claims worth Rs 9.41 billion across 518 policies. Engineering and Contractors’ Risk Insurance followed with 165 claims totaling Rs 4.41 billion. Motor insurance recorded the highest volume of filings, with 1,066 claims amounting to Rs 3.07 billion. Marine/Transit Cargo Insurance logged 104 claims totaling Rs 2.48 billion, while miscellaneous insurance accounted for 299 claims valued at Rs 1.36 billion. Health insurance recorded 28 claims amounting to Rs 225.2 million.
The August 26 flood claimed more than 1,400 lives, while nearly 5,000 people are unaccounted for. According to the Rapid Damage and Needs Assessment (RDNA) Report published by the National Disaster Risk Reduction and Management Authority (NDRRMA) and the National Planning Commission, the flood caused physical infrastructure damage estimated at around Rs 473.57 billion.
The report estimates total recovery and reconstruction needs for the August 26 disaster at Rs 723.31 billion. Energy sector losses alone are estimated at Rs 134.69 billion, while roads sustained Rs 22 billion in damage, bridges Rs 11.35 billion, and telecommunications Rs 620 million.
