Losses from hotels, retailers and vehicle dealers already exceed billions of rupees, raising concerns over insurers’ capital strength and Nepal Re’s capacity to absorb claims.
Industry expected to reach US$3.3bn by 2030 as vehicle sales surge, but insurers face mounting claims costs from natural disasters and increased traffic incidents.
Hong Kong raised its highest storm signal as Super Typhoon Ragasa swept close, flooding districts and halting transport, with insurers bracing for Mangkhut-scale losses.
