Kathmandu. The Non-Life Insurance Entrepreneurs Association of Nepal (NBA) has expressed its commitment to expedite the settlement of claims for the loss caused during the agitation.

The association has also urged the concerned bodies to forward the process with accurate details of the damage to the insured vehicles and physical infrastructures.

In the context of the increasing importance of insurance in the present situation, the insurance companies are fulfilling their social responsibility and are expediting the necessary process for compensating the insured.

The association has made it clear that the claim payment process will be concluded on the basis of the damage details after assessing the damage to the insured property as soon as possible.

Issuing a press release today, the Non-Life Insurance Entrepreneurs Association of Nepal has expressed deep condolence to the people who lost their lives in course of the ongoing agitation across the country. The association has expressed deep condolences to the families of the victims and wished for the speedy recovery of the injured.

Expressing deep sorrow over the damage caused to the President’s House, Parliament building, security agencies, administrative structures, private property, industry, trade and transportation, the association has urged the insurance companies to prioritise claim payment during this time of crisis.

Similarly, Association President Rajendra Malla appealed to the insured to submit the required documents along with details of their losses to the insurance company at the earliest and help in making the claim process easier. Likewise, the insurance companies are also working with the objective of finalizing the claim payment process as soon as possible, said Malla.

Chairman Malla said that the proactive activity of insurance companies in the current situation is positive and promising in the context that the experience after the earthquake of 2072 and the Covid pandemic has made the need and utility of insurance seriously.