Himalayan Hazards: The Flooding of Insurance Markets in Nepal The recent floods in Nepal have brought to light a significant consequence: commercial insurance losses that could exceed $168 million, primarily due to damage to hydropower projects and infrastructure along affected rivers.
Economic losses from the disaster are estimated at $2. 56 billion, with over 1,200 dead or missing.
Damage to hydropower projects has been severe, with some structures suffering from washed away access roads and above ground infrastructure. This raises questions about insurers' preparedness in covering such risks.