July 9: Non-life insurance companies have received insurance claims worth Rs 2 billion for damage caused by floods and landslides in different parts of the country.

According to the data provided by the Insurance Board, the non-life insurance companies received a total of 331 insurance claims worth Rs 2.92 billion as of July 7. Executive director of the board, Raju Raman Poudel said that the victims of flood made claims for loss of property, motor, agriculture and livestock, and engineering.

There are currently 20 non-life insurance companies operating in Nepal.

According to the board, the claims will be paid after assessing the damage and completing the necessary process. Recent floods had damaged buildings, vehicles, agricultural lands, hydropower projects, other projects, projects under construction and other physical infrastructure.

The board said that as the flood in Nepal is still continuing, there are chances of receiving more claims.

Of the total insurance claims, the claim for engineering insurance is the highest with a total of Rs 1.21 billion.

The companies have received 107 claims worth Rs 907 million from under-construction projects. Likewise, Rs 117 million has been claimed from eight completed projects.

Similarly, claims worth Rs 88.43 million have been made for 18 heavy equipment used in the projects. According to the board, there are six other claims worth Rs 15.33 million in engineering.

After engineering, there are more claims on home and commercial buildings, ie property insurance. The data shows that 141 claims worth Rs 693.6 million have been received under the heading of property insurance.

Likewise, 33 claims worth Rs 47.58 million have been registered for motor insurance. Five insurance claims for loss of livestock totaled Rs 23.8 million. In agriculture insurance, six claims amounting to Rs 16.25 million were made.