Insurers to make advance payments for Bhotekoshi flood damage
Translated from English and summarized by DistantNews. Read the original for the full story.
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Official statement
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- Nepalese insurers will make advance payments to people affected by the August 26 Bhotekoshi flood.
- Detailed assessments of losses at hydropower projects and major infrastructure will take time because of the scale of the damage.
- The Finance Ministry reached the decision after discussions with the Nepal Insurance Authority, reinsurers and insurance companies.
Insurance companies in Nepal will provide advance payments to those affected by the August 26 Bhotekoshi flood, while assessments of the full losses continue.
The decision reflects the time needed to evaluate major claims involving hydropower projects and other large infrastructure. The damage in those areas is extensive enough that complete assessments cannot be finished immediately.
The Finance Ministry announced the arrangement after discussions with the Nepal Insurance Authority, reinsurance companies and insurance companies.
About this summary
Originally published by OnlineKhabar English in English. Translated, summarized, and contextualized automatically by DistantNews, with a note on how the source frames the story. Not individually reviewed before publishing. How this works.
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