Less than 1% of insurance claims for damage caused by floods and landslides have been paid out to date, according to data from the Nepal Insurance Authority (NIA).
Around NPR4.71m ($35,000) had been paid out of total claims of NPR10,533m as of 23 October 2024, according to local media reports.
Floods and landslides triggered by recent heavy rainfall in late September caused heavy losses across Nepal.
The NIA had directed insurers not to delay the payment of insurance claims for damages. NIA chairman Mr Surya Prasad Silwal has said that the regulator would look into the reasons for the delay.
Mr Ashok Khadka, general secretary of the Nepal Insurance Association, said that reasons for delays included: claimants could not be contacted even though they had lodged claims while other claimants had yet to submit the required documentation to support their claims.
The Authority has also asked insurers to shorten the list of supporting documents required.