Workshop on ‘Index-Based Flood Insurance’ held

NL Today

  • Read Time 2 min.

Kathmandu: The provincial level workshop on ‘Index-Based Flood Insurance’ has been held in Kailali.

This insurance, which is going to be practiced for the first time in Nepal, is expected to provide relief to small farmers and marginalized communities by transferring the risk of communities that are constantly affected by floods, Practical Action said in a press release.

Index-based flood insurance is insurance based on a certain index of flood, based on the possible damage caused by the flood. Index-based flood insurance will be more effective for the communities with low income, small farmers living in flood-affected areas, whose livelihoods are affected by flood, reads the release.

Expressing his gratitude to the organizers of the event, Tilak Ram Sharma, Minister of Internal Affairs and Law of Lumbini Province, said, “Since this insurance is going to be practiced for the first time in Nepal, the assistance of all parties is very much needed. Therefore, advice and suggestions from various partners engaged in disaster management will contribute greatly to the success of this insurance.

In addition, the Minister of Internal Affairs and Law of Sudurpaschim Province, Dr. Ran Bahadur Rawal, thanked the Practical Action and associated partners, said, “We should make this plan, which has been forwarded as a model in Nepal, successful together, taking past experiences and learnings.”

Also, drawing the attention of the participants in this program, climate and disaster expert of Practical Action Dr. Dharam Raj Uprety highlighted the effects of climate change that is increasing in the world.

Similarly, Bikram Rana, Program Coordinator of Practical Action, said that the program is currently being conducted in Bardiya and Kailali and will be expanded to other affected districts of Nepal.