NIA waives reporting deadline, eases documentation for Bhotekoshi flood claims
Summary
The Nepal Insurance Authority has waived claim reporting deadlines and eased documentation rules for victims of the Rasuwa flood. Insurers must now accept verbal or digital notices, use available evidence for processing, and pay advance compensation of up to 50 percent based on preliminary assessments.
Key Points
- The Nepal Insurance Authority has issued a special procedure to speed up insurance compensation for victims of the August 26 Rasuwa flood.
- Claim deadlines and pre-notification requirements have been waived, and losses can now be reported in writing, verbally, or through digital means.
- Insurers may process claims using photographs, videos, bank stock declarations, tax documents, and other available evidence if originals were destroyed.
- Advance payments of up to 50 percent of estimated liability are allowed, and smaller claims under Rs 500,000 can be settled quickly by company staff.
