How to file an insurance claim and how long does it take to get paid
Summary
Insurance claims worth more than Rs26 billion have already been filed after the Bhotekoshi disaster, with authorities allowing simplified settlement procedures for major disasters. The Nepal Insurance Authority says policyholders can receive advance payments of up to 50 percent of the assessed loss while documents are processed.
Key Points
- Non-life insurers have received claims worth more than Rs26 billion after the floods.
- The Insurance Authority says major disaster claims can be settled under a simplified procedure based on minimum required documents.
- Insurance companies may provide advance payments of up to 50 percent of the assessed loss.
- The total claim amount is expected to rise as life and accident insurance data is still being collected.
