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Nepal’s devastating floods could produce more than 20 billion Nepali rupees ($132.3 million) in commercial insurance losses, with hydropower projects bearing most of the damage, a senior insurance executive said.

The cover would compensate power-plant operators for insured losses. Life insurance, personal accident and workers’ compensation claims are expected separately as authorities verify deaths and missing people in areas that remain inaccessible.

Eleven hydropower projects are located in the affected region along the border with China’s Tibet region. Toton Chakraborty, chief executive of Oriental Insurance Company Nepal, said projects including Rasuwagadhi, Upper Trishuli-3A, Chilime and Devighat were directly affected. Assessments at five other projects remain under way.

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Hydropower projects along the affected river corridor have suffered the largest damage. In many cases, access roads and above-ground infrastructure have been washed away.

“Hydropower projects along the affected river corridor have suffered the largest damage. In many cases, access roads and above-ground infrastructure have been washed away,” Chakraborty told Reuters. He said current figures mostly represented insured exposure rather than final claims, which would become clear after detailed surveys. Claims could increase if repairs delay commercial operations, because some policies cover lost revenue from postponed commissioning.

The Nepal Insurance Authority had received 583 flood-related claims worth 25.87 billion Nepali rupees ($171.13 million) as of Aug. 31. Industry executives said the floods could affect future insurance coverage for Himalayan infrastructure, where earthquakes and glacial floods pose major risks. “The recent mountain floods in South Asia may lead insurers to further review hydropower and infrastructure risks, particularly in highly exposed locations,” said Benjamin Ng, power leader for Asia at insurance broker Aon.

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The recent mountain floods in South Asia may lead insurers to further review hydropower and infrastructure risks, particularly in highly exposed locations.