Insurance Association
21st September 2025, Kathmandu
The Nepal Non-Life Insurance Business Association has committed to a speedy conclusion of the claims payment process for damages incurred during recent protests.
Insurance Association
This proactive step aims to provide quick relief to insured individuals and businesses. The association urged all affected parties to promptly submit accurate details of damage to vehicles and physical structures to their respective insurance companies.
This quick action is a reflection of the increasing importance of insurance in today’s unpredictable environment.
Condolences and A Call to Action
In a recent press statement, the association conveyed its deepest condolences to those who tragically lost their lives during the protests across the country. It also expressed profound sympathy for the affected families and wished a fast recovery for the injured.
The association voiced its sorrow over the extensive destruction to both public and private property, including the President’s Office, the parliament building, and numerous businesses.
The body has called on its member companies to prioritize claim payments, acknowledging the current crisis.
The Role of Insurance in Crisis
Association President Rajendra Malla emphasized the crucial role of insurance in times of crisis. He noted that the experiences from the 2015 earthquake and the COVID-19 pandemic highlighted the necessity and utility of insurance.
This recent proactive stance by insurance companies is seen as a positive and promising development.
It shows their commitment to fulfilling their social responsibilities by rapidly moving forward with the compensation process for their clients. Mr. Malla reiterated the importance of public trust and the need for insurance to be seen as a reliable safeguard.
Expediting the Claims Process
The association made it clear that it will expedite the evaluation of damages to insured properties. Based on the damage report, the claims payment process will be concluded as quickly as possible.
This streamlined approach is a significant benefit for policyholders who need quick financial support to recover from their losses.
Mr. Malla appealed to all insured parties to submit the necessary documents without delay. Timely submission of paperwork is crucial for the efficient processing of claims.
Building Resilience in a Changing World
The association’s swift response reflects a broader understanding of its role in national resilience. As urban and political landscapes become more volatile, the importance of non-life insurance grows.
It provides a financial safety net that helps individuals and businesses recover and rebuild. This commitment to an efficient claims process not only serves the immediate needs of those affected but also strengthens public confidence in the insurance sector.
The association’s efforts are a positive signal that the industry is adapting to new challenges and reinforcing its position as a key pillar of economic stability.
A Collaborative Effort for Recovery
The call for prompt action from both the association and the insured parties underscores a collaborative effort toward recovery. The association is prepared to do its part, and it expects a reciprocal effort from its clients.
This partnership is vital for navigating the aftermath of such widespread incidents.
The focus on a fast, efficient claims payment process can set a new standard for the industry, ensuring that insurance truly delivers on its promise of security and support when it is needed most. This incident serves as a reminder of the power of insurance as a tool for recovery and rebuilding.
For more : Insurance Association