Insurers have paid just Rs821.39 million, or about 4 percent, of the Rs20.9 billion in claims filed over the Bhotekoshi flood, nearly two months after the disaster, according to the Nepal Insurance Authority. The figures, as of October 16, highlight the slow pace of insurance payouts to policyholders affected by the flood.

Claims initially reached Rs25.87 billion within three to four days of the disaster, based on preliminary estimates submitted before insurers could assess losses on the ground. The total fell to around Rs15 billion to Rs16 billion after assessments began, but rose again as more claims were filed, reaching Rs20.9 billion by October 16. The authority expects the figure to increase further.

Chanki Chhetri, a former president of the Nepal Insurers’ Association, said the payouts made so far were satisfactory given the circumstances.

“It has not yet been two months since the flood. For the first week or a week and a half after the disaster, it was not even possible to reach the affected areas and assess the claims,” he said. “Payments are now being made as the situation has become more manageable.”

Chhetri said insurers would not withhold payments once policyholders had completed the required procedures.

Property insurance accounts for the largest share of claims by value, with 576 claims worth Rs9.56 billion. Engineering and contractor insurance has generated 174 claims totalling Rs4.40 billion.

Motor insurance has recorded the highest number of claims, with 1,067 applications worth Rs2.85 billion. Transit insurance accounts for 105 claims worth Rs2.34 billion, while 556 claims under other insurance categories total Rs1.51 billion. Health insurance has received 53 claims worth Rs246.3 million, according to the Nepal Insurance Authority.

Transit and motor insurance have received the largest payouts so far, at Rs238.9 million and Rs236.6 million, respectively. Insurers have paid Rs162.8 million under property insurance and Rs174 million under engineering and contractor insurance. A further Rs8.9 million has been paid under other insurance categories, the authority said.