31st October 2025, Kathmandu
Siddhartha Premier Insurance Limited, a prominent name in Nepal’s non-life insurance sector, has issued an urgent and critical public notice requesting policyholders with pending claim payments dating back to the fiscal year ending Ashad 2082 to immediately contact the company.
Siddhartha Premier’s Pending Claims
This extraordinary measure has been taken because a significant number of claim files are currently stalled due to the failure of policyholders to submit necessary supporting documents or complete final procedural requirements. The company’s decisive communication underscores its commitment to accountability and timely claim settlement, while simultaneously setting a firm deadline to maintain operational efficiency and clear its backlog.
The Root Cause of Stalled Claims and Required Action
The halting of claim disbursements, a situation often encountered across the insurance industry in Nepal, is primarily procedural. An insurance claim cannot proceed to final assessment and payment without a complete set of validated documents from the insured party and a final report from the appointed surveyor. When policyholders fail to provide these crucial documents—which can range from official police reports and municipal assessments (muchulka) to original bills, medical records, or vehicle blue books, depending on the nature of the claim—the company’s hands are tied by regulatory and internal compliance requirements.
Policyholder Responsibility: The company’s notice explicitly highlights the policyholder’s responsibility in the final stages of the claim process. The lack of crucial paperwork results in the claim moving into a ‘pending’ status, frustrating both the company, which seeks to finalize its liabilities, and the policyholder, who is awaiting their due compensation.
The Urgent Deadline: Siddhartha Premier Insurance has stipulated a strict deadline, urging all affected policyholders to comply within the next 35 days. The notice serves as a final warning, clarifying that failure to contact the company and submit the required documentation within this period will result in the permanent closure of their claim files. This measure, while firm, is necessary to clear old liabilities and maintain clean financial records in compliance with the Nepal Insurance Authority (NIA) regulations.
Accessing Support and Expediting Settlement
To facilitate the immediate submission of these missing documents and ensure the fastest possible release of funds, Siddhartha Premier Insurance has made multiple avenues of support available to policyholders. This outreach effort is a clear display of the company’s customer-centric approach to resolving the backlog.
Wide Contact Network: Policyholders are directed to visit any of the company’s convenient locations, including the Central Office at Babermahal, Kathmandu, or any of its extended network points, such as the provincial, branch, or sub-branch offices. This extensive reach ensures that policyholders, even those in less accessible regions, have a local point of contact to submit their paperwork.
Coordination with Surveyors: A key directive is the request for policyholders to actively coordinate with the respective insurance surveyor. The surveyor’s report is indispensable for the final claim assessment, and policyholders often need to provide supplementary information or access to damaged property to the surveyor for their report to be completed promptly. This active cooperation is essential to move the claim from pending status to final settlement.
Digital Claim Tools: It is worth noting that modern insurers like Siddhartha Premier Insurance often provide online portals where claimants can track their claim status and, in some cases, upload requested documents digitally. Policyholders should inquire about the availability of such services via the bank’s digital channels (like the SPIL DIGI platform) to expedite the submission process without requiring a physical office visit.
Reinforcing Trust in Nepal’s Insurance Market
This announcement is more than a procedural requirement; it serves as a powerful public statement regarding the company’s commitment to transparency and integrity—two qualities that are currently under intense scrutiny in the Nepalese insurance sector. Following recent large-scale events, such as the claims arising from the Gen Z protests and increased scrutiny from the Nepal Insurance Authority concerning delayed settlements, the industry is under pressure to improve efficiency.
By actively chasing down policyholders with pending payments, Siddhartha Premier Insurance reinforces public trust in its claim settlement process. Timely and complete claim settlement is the ultimate measure of an insurance company’s reliability and solvency. This effort demonstrates that the responsibility for settlement is shared: the insurer must process claims quickly, and the insured must provide the complete set of required documentation.
In conclusion, the 35-day deadline issued by Siddhartha Premier Insurance is a critical window for hundreds of policyholders. By quickly utilizing the bank’s extensive network and providing the required claim documents, these individuals can secure their long-awaited payments, allowing the insurance company to successfully finalize its obligations for the last fiscal year and solidify its commitment to being a trustworthy provider in the rapidly growing and evolving non-life insurance landscape of Nepal.
For More: Siddhartha Premier’s Pending Claims