Nepal Insurance Authority to Implement Wildlife Risk Insurance Policy from July 17
Summary
Nepal Insurance Authority will implement a wildlife risk insurance policy from July 17 to cover damages caused by wildlife attacks, offering compensation up to 10 lakh rupees for individuals and various benefits for property and crops.
Key Points
- Nepal Insurance Authority is implementing a wildlife risk-focused insurance policy starting from Shrawan 1 (July 17).
- The policy covers damages caused by various wildlife including elephants, rhinos, tigers, and others, with compensation limits up to 10 lakh rupees for human injury and death.
- Licensed life and micro-life insurance companies can issue the policy with an annual premium of fifteen hundred rupees.
- Data shows the Government of Nepal has distributed over 78 crore rupees in relief over the last five years for wildlife damage, and the insurance aims to provide faster, systematic compensation.
