The devastating Bhotekoshi flood that struck Rasuwa on August 26 has resulted in insurance claims totaling Rs 3.08 billion. Data from the Nepal Insurance Authority shows that 1,066 vehicles were reported damaged or swept away as of September 28.
Many of these vehicles were located near the Rasuwagadhi Customs Office and surrounding yards. The losses include:
- Over 500 electric cars intended for sale
- 338 trucks and containers
- 191 vehicles belonging to transport entrepreneurs
- Hundreds of motorcycles, scooters, and private cars
While the total value of claims is high, insurance companies have paid out only Rs 2.41 million for vehicle-related damages so far. Insurers state that payments are currently low because surveyors are still assessing the damage. Under the Insurance Claim Payment Guidelines 2081, surveyors must submit reports within 15 to 21 days of their appointment. Companies are then required to settle claims within 21 days of receiving those reports.
Beyond the vehicle sector, the flood caused widespread destruction, leading to total insurance claims of approximately Rs 20.98 billion across various industries. This figure includes significant claims from property, engineering, and contractor-risk insurance policies. Across all sectors, insurance companies have paid out a total of Rs 6.75 million to date. The number of damaged vehicles is expected to rise as assessment work continues.
Writes on vehicle pricing, taxation and the Nepali auto market from ongoing tracking of distributor price lists. Editorial policy.
