Kathmandu: Nepal Non-Life Insurers’ Association has pledged to expedite the settlement of insurance claims related to damages sustained during the recent wave of protests across the country.
In a statement, the association said it is committed to concluding the claim settlement process promptly, urging affected policyholders to submit accurate details of the damage to their insured vehicles and physical properties to the concerned authorities without delay.
“At a time when the importance of insurance has become even more pronounced, insurance companies are fulfilling their social responsibility by moving quickly to compensate policyholders,” the statement noted.
The association stressed that insured assets will be assessed without delay and that the claim process will be carried forward on the basis of verified damage reports to ensure swift settlements.
Extending condolences to those who lost their lives during the protests, the association also expressed deep sympathy to affected families and wished a speedy recovery to the injured.
The statement further expressed sorrow over the destruction caused to key state and private assets, including the President’s Office, the Parliament building, security installations, administrative structures, private property, industries, businesses, and transport infrastructure. The association called on all insurance companies to prioritize claim payments during this crisis.
Association President Rajendra Malla appealed to policyholders to cooperate by submitting damage details along with necessary documents promptly to insurance companies, which would help facilitate the claims process.
He further stated that insurers are already working with the goal of concluding claim settlements quickly.
Citing lessons from the 2015 earthquake and the COVID-19 pandemic, Malla emphasized that recent events once again underscore the importance and necessity of insurance, adding that the proactive role of insurers in the current crisis is both positive and encouraging.
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