Finance Minister Dr. Swarnim Wagle has instructed the Nepal Insurance Authority and insurance companies to make the claim payment process fast and easy for people affected by recent floods.
Finance Minister Dr. Swarnim Wagle has directed to make the insurance claim payment process simple, easy, and quick in the flood-affected areas. He gave this instruction during high-level meeting organized by Nepal Insurance Authority at Ministry of Finance on Monday.
The meeting was held to discuss about the status of insurance claims and how to pay them easily after the heavy damage caused by floods in Rasuwa on Bhadra 10. Minister Wagle requested insurance companies to distribute payments fast so that victims can get quick relief.
Government Ready to Support Insurance Companies
Minister Wagle said that the country is currently in grief because of the floods. He urged everyone to work together in this difficult time and asked insurance companies to bring relief to the victims by making the claim process very simple. He also assured that if the companies face any problem where government needs to help, they can ask for it, as the government is ready to support.
He added that everyone must move forward together during this hard situation. The unexpected floods in Bhote Koshi river has caused huge loss of lives and property. It has also badly damaged hydropower projects, public infrastructure, and private properties.
Claims Reach Over 25 Arba Rupees
According to the Nepal Insurance Authority, a total of 583 insurance claims have been registered till Bhadra 15. The initial estimated amount for these claims is around Rs. 25 arba 87 crore.
The meeting decided to give high priority to these initial claims and make the process smooth. To avoid any delay because of paperwork, they decided to simplify the official procedures and use a fast-track payment system for small claims.
Since it takes time to fully evaluate the damage in hydropower projects and big infrastructure, the meeting decided to pay a reasonable advance amount immediately. This will help the insured companies and people to manage their cash flow easily.
Special Task Force for Monitoring
To make the deployment of surveyors fast and transparent, the Nepal Insurance Authority will give blanket approval and start automatic surveyor deployment through their system. The meeting also decided to form a special task force in the Authority to monitor and facilitate the claim payment process on daily basis.
The government is currently prioritizing relief and rescue works, and a task force has already started working on a reconstruction plan. In this situation, simplifying the insurance claim process is expected to bring immediate relief to the affected people. The meeting was attended by the Chairman of Nepal Insurance Authority, directors, CEOs of insurance and reinsurance companies, and members of the Surveyor Association.
AI Disclaimer: This article was originally published on https://bajarkochirfar.com. It has been translated with the help of AI. For the best understanding and accurate facts, we recommend reading the original Nepali version.
