Rasuwa Flood: Insurance Authority Issues Separate Claim Settlement Procedure, Compensation Without Paperwork Hassle
The Nepal Insurance Authority has issued a separate procedure for fast and hassle-free insurance claim payments to victims of the devastating flood in the Bhotekoshi River in Rasuwa. The procedure, which allows insurance companies to pay compensation based on recommendations from government agencies, came into immediate effect on Asoj 8.
Kathmandu | The Nepal Insurance Authority has introduced a separate 'claim procedure' to provide fast and hassle-free insurance claim payments to victims who suffered losses from the devastating flood in the Bhotekoshi River in Rasuwa on Bhadra 10.
The Authority issued the Brief Procedure on Rasuwa Flood Claim Settlement, 2083. The procedure, approved by the Authority's Board of Directors on Asoj 8, has come into immediate effect. The Authority prepared the procedure as per the government's directive.
According to the procedure, victims who lost insurance-related documents due to the massive glacial flood in the Bhotekoshi River in Rasuwa on Bhadra 10 will no longer have to complete complex paperwork. The procedure states that insurance companies can pay compensation or life insurance claims based on a recommendation and evidence issued by any one government agency among the National Disaster Risk Reduction and Management Authority, the District Administration Office, the concerned local level (rural municipality, municipality, or ward), or Nepal Police.
Given the extraordinary circumstances, the procedure was introduced for the relief of affected people as per the directive of the Government of Nepal. Executive Director of the Authority Sushildev Subedi said, 'Suggestions received from insurers have also been incorporated while preparing the procedure.'
To make claim and compensation arrangements transparent, the procedure has been implemented as a conditional advance payment. The procedure includes a condition that if a person reported missing or property reported damaged is later confirmed to be found safe, the amount received as insurance must be returned.
The Authority stated that the procedure was prepared because it was necessary to settle claims filed with insurers due to insured property, vehicles, projects, commercial inventories, and human losses in Rasuwa as well as Nuwakot, Dhading, and Chitwan districts caused by the floods in the Bhotekoshi and Trishuli rivers in a prompt, simple, transparent, organized, and effective manner. The Authority has also directed insurers to pay insurance claims in accordance with this procedure.