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<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Hydropower projects and road infrastructures have been affected recently due to increasing number of natural calamities. As a result, insurance claims are also increasing.</span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Hence, foreign companies have been reluctant to reinsure hydropower sector. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Chunki Chhetri, president of the Nepal Insurance Association and CEO of Sagarmatha Insurance, said that they are facing mounting challenge to reinsure hydropower projects by foreign companies. He added that large projects are particularly facing more problems.</span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">"It has become easier to reinsure small hydropower projects after the Insurance Board fixed the minimum rate of non-life insurance. However, it is difficult to reinsure large projects," he said, adding, "Recently, claims from the hydropower and road projects have increased. As a result, reinsurance of road and hydropower projects has become a challenge." </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">He says that foreign companies have not been able to meet the criteria for reinsurance set by the government. "They are profit-oriented companies, so it is natural for them to try to do safe business," he said. "This problem arises as the hydropower sector has become risky. We are forced to reinsure at a high rate." </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Sometime ago, Nepali insurance companies used to insure hydropower projects at economical rates. At that time, foreign companies had stopped reinsuring. The Insurance Board then set the minimum rate for such insurance. After that, it was easier to reinsure hydropower projects. However, companies say there are still problems with large projects. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Executive Director of the Insurance Board Raju Raman Poudel said that foreign companies have started reinsuring after fixing the minimum rate. However, he said that there could be problems in the case of big projects. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">While foreign companies are refusing to reinsure the hydropower projects, power producers of Nepal have been protesting against the minimum insurance rate. Poudel said that the power producers should understand the technical problems of the insurance sector and accept the minimum rate. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Stakeholders say that if foreign companies refuse to reinsure, the premium may have to be further increased. </span></span></p>
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<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Hydropower projects and road infrastructures have been affected recently due to increasing number of natural calamities. As a result, insurance claims are also increasing.</span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Hence, foreign companies have been reluctant to reinsure hydropower sector. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Chunki Chhetri, president of the Nepal Insurance Association and CEO of Sagarmatha Insurance, said that they are facing mounting challenge to reinsure hydropower projects by foreign companies. He added that large projects are particularly facing more problems.</span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">"It has become easier to reinsure small hydropower projects after the Insurance Board fixed the minimum rate of non-life insurance. However, it is difficult to reinsure large projects," he said, adding, "Recently, claims from the hydropower and road projects have increased. As a result, reinsurance of road and hydropower projects has become a challenge." </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">He says that foreign companies have not been able to meet the criteria for reinsurance set by the government. "They are profit-oriented companies, so it is natural for them to try to do safe business," he said. "This problem arises as the hydropower sector has become risky. We are forced to reinsure at a high rate." </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Sometime ago, Nepali insurance companies used to insure hydropower projects at economical rates. At that time, foreign companies had stopped reinsuring. The Insurance Board then set the minimum rate for such insurance. After that, it was easier to reinsure hydropower projects. However, companies say there are still problems with large projects. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Executive Director of the Insurance Board Raju Raman Poudel said that foreign companies have started reinsuring after fixing the minimum rate. However, he said that there could be problems in the case of big projects. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">While foreign companies are refusing to reinsure the hydropower projects, power producers of Nepal have been protesting against the minimum insurance rate. Poudel said that the power producers should understand the technical problems of the insurance sector and accept the minimum rate. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Stakeholders say that if foreign companies refuse to reinsure, the premium may have to be further increased. </span></span></p>
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<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Hydropower projects and road infrastructures have been affected recently due to increasing number of natural calamities. As a result, insurance claims are also increasing.</span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Hence, foreign companies have been reluctant to reinsure hydropower sector. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Chunki Chhetri, president of the Nepal Insurance Association and CEO of Sagarmatha Insurance, said that they are facing mounting challenge to reinsure hydropower projects by foreign companies. He added that large projects are particularly facing more problems.</span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">"It has become easier to reinsure small hydropower projects after the Insurance Board fixed the minimum rate of non-life insurance. However, it is difficult to reinsure large projects," he said, adding, "Recently, claims from the hydropower and road projects have increased. As a result, reinsurance of road and hydropower projects has become a challenge." </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">He says that foreign companies have not been able to meet the criteria for reinsurance set by the government. "They are profit-oriented companies, so it is natural for them to try to do safe business," he said. "This problem arises as the hydropower sector has become risky. We are forced to reinsure at a high rate." </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Sometime ago, Nepali insurance companies used to insure hydropower projects at economical rates. At that time, foreign companies had stopped reinsuring. The Insurance Board then set the minimum rate for such insurance. After that, it was easier to reinsure hydropower projects. However, companies say there are still problems with large projects. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Executive Director of the Insurance Board Raju Raman Poudel said that foreign companies have started reinsuring after fixing the minimum rate. However, he said that there could be problems in the case of big projects. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">While foreign companies are refusing to reinsure the hydropower projects, power producers of Nepal have been protesting against the minimum insurance rate. Poudel said that the power producers should understand the technical problems of the insurance sector and accept the minimum rate. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Stakeholders say that if foreign companies refuse to reinsure, the premium may have to be further increased. </span></span></p>
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<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Hydropower projects and road infrastructures have been affected recently due to increasing number of natural calamities. As a result, insurance claims are also increasing.</span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Hence, foreign companies have been reluctant to reinsure hydropower sector. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Chunki Chhetri, president of the Nepal Insurance Association and CEO of Sagarmatha Insurance, said that they are facing mounting challenge to reinsure hydropower projects by foreign companies. He added that large projects are particularly facing more problems.</span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">"It has become easier to reinsure small hydropower projects after the Insurance Board fixed the minimum rate of non-life insurance. However, it is difficult to reinsure large projects," he said, adding, "Recently, claims from the hydropower and road projects have increased. As a result, reinsurance of road and hydropower projects has become a challenge." </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">He says that foreign companies have not been able to meet the criteria for reinsurance set by the government. "They are profit-oriented companies, so it is natural for them to try to do safe business," he said. "This problem arises as the hydropower sector has become risky. We are forced to reinsure at a high rate." </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Sometime ago, Nepali insurance companies used to insure hydropower projects at economical rates. At that time, foreign companies had stopped reinsuring. The Insurance Board then set the minimum rate for such insurance. After that, it was easier to reinsure hydropower projects. However, companies say there are still problems with large projects. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Executive Director of the Insurance Board Raju Raman Poudel said that foreign companies have started reinsuring after fixing the minimum rate. However, he said that there could be problems in the case of big projects. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">While foreign companies are refusing to reinsure the hydropower projects, power producers of Nepal have been protesting against the minimum insurance rate. Poudel said that the power producers should understand the technical problems of the insurance sector and accept the minimum rate. </span></span></p>
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<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Hydropower projects and road infrastructures have been affected recently due to increasing number of natural calamities. As a result, insurance claims are also increasing.</span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Hence, foreign companies have been reluctant to reinsure hydropower sector. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Chunki Chhetri, president of the Nepal Insurance Association and CEO of Sagarmatha Insurance, said that they are facing mounting challenge to reinsure hydropower projects by foreign companies. He added that large projects are particularly facing more problems.</span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">"It has become easier to reinsure small hydropower projects after the Insurance Board fixed the minimum rate of non-life insurance. However, it is difficult to reinsure large projects," he said, adding, "Recently, claims from the hydropower and road projects have increased. As a result, reinsurance of road and hydropower projects has become a challenge." </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">He says that foreign companies have not been able to meet the criteria for reinsurance set by the government. "They are profit-oriented companies, so it is natural for them to try to do safe business," he said. "This problem arises as the hydropower sector has become risky. We are forced to reinsure at a high rate." </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Sometime ago, Nepali insurance companies used to insure hydropower projects at economical rates. At that time, foreign companies had stopped reinsuring. The Insurance Board then set the minimum rate for such insurance. After that, it was easier to reinsure hydropower projects. However, companies say there are still problems with large projects. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Executive Director of the Insurance Board Raju Raman Poudel said that foreign companies have started reinsuring after fixing the minimum rate. However, he said that there could be problems in the case of big projects. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">While foreign companies are refusing to reinsure the hydropower projects, power producers of Nepal have been protesting against the minimum insurance rate. Poudel said that the power producers should understand the technical problems of the insurance sector and accept the minimum rate. </span></span></p>
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<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Chunki Chhetri, president of the Nepal Insurance Association and CEO of Sagarmatha Insurance, said that they are facing mounting challenge to reinsure hydropower projects by foreign companies. He added that large projects are particularly facing more problems.</span></span></p>
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<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">He says that foreign companies have not been able to meet the criteria for reinsurance set by the government. "They are profit-oriented companies, so it is natural for them to try to do safe business," he said. "This problem arises as the hydropower sector has become risky. We are forced to reinsure at a high rate." </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Sometime ago, Nepali insurance companies used to insure hydropower projects at economical rates. At that time, foreign companies had stopped reinsuring. The Insurance Board then set the minimum rate for such insurance. After that, it was easier to reinsure hydropower projects. However, companies say there are still problems with large projects. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Executive Director of the Insurance Board Raju Raman Poudel said that foreign companies have started reinsuring after fixing the minimum rate. However, he said that there could be problems in the case of big projects. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">While foreign companies are refusing to reinsure the hydropower projects, power producers of Nepal have been protesting against the minimum insurance rate. Poudel said that the power producers should understand the technical problems of the insurance sector and accept the minimum rate. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Stakeholders say that if foreign companies refuse to reinsure, the premium may have to be further increased. </span></span></p>
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<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Hydropower projects and road infrastructures have been affected recently due to increasing number of natural calamities. As a result, insurance claims are also increasing.</span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Hence, foreign companies have been reluctant to reinsure hydropower sector. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Chunki Chhetri, president of the Nepal Insurance Association and CEO of Sagarmatha Insurance, said that they are facing mounting challenge to reinsure hydropower projects by foreign companies. He added that large projects are particularly facing more problems.</span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">"It has become easier to reinsure small hydropower projects after the Insurance Board fixed the minimum rate of non-life insurance. However, it is difficult to reinsure large projects," he said, adding, "Recently, claims from the hydropower and road projects have increased. As a result, reinsurance of road and hydropower projects has become a challenge." </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">He says that foreign companies have not been able to meet the criteria for reinsurance set by the government. "They are profit-oriented companies, so it is natural for them to try to do safe business," he said. "This problem arises as the hydropower sector has become risky. We are forced to reinsure at a high rate." </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Sometime ago, Nepali insurance companies used to insure hydropower projects at economical rates. At that time, foreign companies had stopped reinsuring. The Insurance Board then set the minimum rate for such insurance. After that, it was easier to reinsure hydropower projects. However, companies say there are still problems with large projects. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Executive Director of the Insurance Board Raju Raman Poudel said that foreign companies have started reinsuring after fixing the minimum rate. However, he said that there could be problems in the case of big projects. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">While foreign companies are refusing to reinsure the hydropower projects, power producers of Nepal have been protesting against the minimum insurance rate. Poudel said that the power producers should understand the technical problems of the insurance sector and accept the minimum rate. </span></span></p>
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<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Hydropower projects and road infrastructures have been affected recently due to increasing number of natural calamities. As a result, insurance claims are also increasing.</span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Hence, foreign companies have been reluctant to reinsure hydropower sector. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Chunki Chhetri, president of the Nepal Insurance Association and CEO of Sagarmatha Insurance, said that they are facing mounting challenge to reinsure hydropower projects by foreign companies. He added that large projects are particularly facing more problems.</span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">"It has become easier to reinsure small hydropower projects after the Insurance Board fixed the minimum rate of non-life insurance. However, it is difficult to reinsure large projects," he said, adding, "Recently, claims from the hydropower and road projects have increased. As a result, reinsurance of road and hydropower projects has become a challenge." </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">He says that foreign companies have not been able to meet the criteria for reinsurance set by the government. "They are profit-oriented companies, so it is natural for them to try to do safe business," he said. "This problem arises as the hydropower sector has become risky. We are forced to reinsure at a high rate." </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Sometime ago, Nepali insurance companies used to insure hydropower projects at economical rates. At that time, foreign companies had stopped reinsuring. The Insurance Board then set the minimum rate for such insurance. After that, it was easier to reinsure hydropower projects. However, companies say there are still problems with large projects. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Executive Director of the Insurance Board Raju Raman Poudel said that foreign companies have started reinsuring after fixing the minimum rate. However, he said that there could be problems in the case of big projects. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">While foreign companies are refusing to reinsure the hydropower projects, power producers of Nepal have been protesting against the minimum insurance rate. Poudel said that the power producers should understand the technical problems of the insurance sector and accept the minimum rate. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Stakeholders say that if foreign companies refuse to reinsure, the premium may have to be further increased. </span></span></p>
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March 7: Foreign reinsurance companies have been reluctant to reinsure hydropower projects due to the rise in incidents of natural disasters such as floods and landslides hitting hydropower projects.
Hydropower projects and road infrastructures have been affected recently due to increasing number of natural calamities. As a result, insurance claims are also increasing.
Hence, foreign companies have been reluctant to reinsure hydropower sector.
Chunki Chhetri, president of the Nepal Insurance Association and CEO of Sagarmatha Insurance, said that they are facing mounting challenge to reinsure hydropower projects by foreign companies. He added that large projects are particularly facing more problems.
"It has become easier to reinsure small hydropower projects after the Insurance Board fixed the minimum rate of non-life insurance. However, it is difficult to reinsure large projects," he said, adding, "Recently, claims from the hydropower and road projects have increased. As a result, reinsurance of road and hydropower projects has become a challenge."
He says that foreign companies have not been able to meet the criteria for reinsurance set by the government. "They are profit-oriented companies, so it is natural for them to try to do safe business," he said. "This problem arises as the hydropower sector has become risky. We are forced to reinsure at a high rate."
Sometime ago, Nepali insurance companies used to insure hydropower projects at economical rates. At that time, foreign companies had stopped reinsuring. The Insurance Board then set the minimum rate for such insurance. After that, it was easier to reinsure hydropower projects. However, companies say there are still problems with large projects.
Executive Director of the Insurance Board Raju Raman Poudel said that foreign companies have started reinsuring after fixing the minimum rate. However, he said that there could be problems in the case of big projects.
While foreign companies are refusing to reinsure the hydropower projects, power producers of Nepal have been protesting against the minimum insurance rate. Poudel said that the power producers should understand the technical problems of the insurance sector and accept the minimum rate.
Stakeholders say that if foreign companies refuse to reinsure, the premium may have to be further increased.
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<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Hydropower projects and road infrastructures have been affected recently due to increasing number of natural calamities. As a result, insurance claims are also increasing.</span></span></p>
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<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Chunki Chhetri, president of the Nepal Insurance Association and CEO of Sagarmatha Insurance, said that they are facing mounting challenge to reinsure hydropower projects by foreign companies. He added that large projects are particularly facing more problems.</span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">"It has become easier to reinsure small hydropower projects after the Insurance Board fixed the minimum rate of non-life insurance. However, it is difficult to reinsure large projects," he said, adding, "Recently, claims from the hydropower and road projects have increased. As a result, reinsurance of road and hydropower projects has become a challenge." </span></span></p>
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<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Sometime ago, Nepali insurance companies used to insure hydropower projects at economical rates. At that time, foreign companies had stopped reinsuring. The Insurance Board then set the minimum rate for such insurance. After that, it was easier to reinsure hydropower projects. However, companies say there are still problems with large projects. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Executive Director of the Insurance Board Raju Raman Poudel said that foreign companies have started reinsuring after fixing the minimum rate. However, he said that there could be problems in the case of big projects. </span></span></p>
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<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Hydropower projects and road infrastructures have been affected recently due to increasing number of natural calamities. As a result, insurance claims are also increasing.</span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Hence, foreign companies have been reluctant to reinsure hydropower sector. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Chunki Chhetri, president of the Nepal Insurance Association and CEO of Sagarmatha Insurance, said that they are facing mounting challenge to reinsure hydropower projects by foreign companies. He added that large projects are particularly facing more problems.</span></span></p>
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<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">He says that foreign companies have not been able to meet the criteria for reinsurance set by the government. "They are profit-oriented companies, so it is natural for them to try to do safe business," he said. "This problem arises as the hydropower sector has become risky. We are forced to reinsure at a high rate." </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Sometime ago, Nepali insurance companies used to insure hydropower projects at economical rates. At that time, foreign companies had stopped reinsuring. The Insurance Board then set the minimum rate for such insurance. After that, it was easier to reinsure hydropower projects. However, companies say there are still problems with large projects. </span></span></p>
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<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">While foreign companies are refusing to reinsure the hydropower projects, power producers of Nepal have been protesting against the minimum insurance rate. Poudel said that the power producers should understand the technical problems of the insurance sector and accept the minimum rate. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Stakeholders say that if foreign companies refuse to reinsure, the premium may have to be further increased. </span></span></p>
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<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Hydropower projects and road infrastructures have been affected recently due to increasing number of natural calamities. As a result, insurance claims are also increasing.</span></span></p>
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<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Chunki Chhetri, president of the Nepal Insurance Association and CEO of Sagarmatha Insurance, said that they are facing mounting challenge to reinsure hydropower projects by foreign companies. He added that large projects are particularly facing more problems.</span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">"It has become easier to reinsure small hydropower projects after the Insurance Board fixed the minimum rate of non-life insurance. However, it is difficult to reinsure large projects," he said, adding, "Recently, claims from the hydropower and road projects have increased. As a result, reinsurance of road and hydropower projects has become a challenge." </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">He says that foreign companies have not been able to meet the criteria for reinsurance set by the government. "They are profit-oriented companies, so it is natural for them to try to do safe business," he said. "This problem arises as the hydropower sector has become risky. We are forced to reinsure at a high rate." </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Sometime ago, Nepali insurance companies used to insure hydropower projects at economical rates. At that time, foreign companies had stopped reinsuring. The Insurance Board then set the minimum rate for such insurance. After that, it was easier to reinsure hydropower projects. However, companies say there are still problems with large projects. </span></span></p>
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<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">While foreign companies are refusing to reinsure the hydropower projects, power producers of Nepal have been protesting against the minimum insurance rate. Poudel said that the power producers should understand the technical problems of the insurance sector and accept the minimum rate. </span></span></p>
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<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Hydropower projects and road infrastructures have been affected recently due to increasing number of natural calamities. As a result, insurance claims are also increasing.</span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Hence, foreign companies have been reluctant to reinsure hydropower sector. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Chunki Chhetri, president of the Nepal Insurance Association and CEO of Sagarmatha Insurance, said that they are facing mounting challenge to reinsure hydropower projects by foreign companies. He added that large projects are particularly facing more problems.</span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">"It has become easier to reinsure small hydropower projects after the Insurance Board fixed the minimum rate of non-life insurance. However, it is difficult to reinsure large projects," he said, adding, "Recently, claims from the hydropower and road projects have increased. As a result, reinsurance of road and hydropower projects has become a challenge." </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">He says that foreign companies have not been able to meet the criteria for reinsurance set by the government. "They are profit-oriented companies, so it is natural for them to try to do safe business," he said. "This problem arises as the hydropower sector has become risky. We are forced to reinsure at a high rate." </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Sometime ago, Nepali insurance companies used to insure hydropower projects at economical rates. At that time, foreign companies had stopped reinsuring. The Insurance Board then set the minimum rate for such insurance. After that, it was easier to reinsure hydropower projects. However, companies say there are still problems with large projects. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Executive Director of the Insurance Board Raju Raman Poudel said that foreign companies have started reinsuring after fixing the minimum rate. However, he said that there could be problems in the case of big projects. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">While foreign companies are refusing to reinsure the hydropower projects, power producers of Nepal have been protesting against the minimum insurance rate. Poudel said that the power producers should understand the technical problems of the insurance sector and accept the minimum rate. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Stakeholders say that if foreign companies refuse to reinsure, the premium may have to be further increased. </span></span></p>
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<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Hydropower projects and road infrastructures have been affected recently due to increasing number of natural calamities. As a result, insurance claims are also increasing.</span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Hence, foreign companies have been reluctant to reinsure hydropower sector. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Chunki Chhetri, president of the Nepal Insurance Association and CEO of Sagarmatha Insurance, said that they are facing mounting challenge to reinsure hydropower projects by foreign companies. He added that large projects are particularly facing more problems.</span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">"It has become easier to reinsure small hydropower projects after the Insurance Board fixed the minimum rate of non-life insurance. However, it is difficult to reinsure large projects," he said, adding, "Recently, claims from the hydropower and road projects have increased. As a result, reinsurance of road and hydropower projects has become a challenge." </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">He says that foreign companies have not been able to meet the criteria for reinsurance set by the government. "They are profit-oriented companies, so it is natural for them to try to do safe business," he said. "This problem arises as the hydropower sector has become risky. We are forced to reinsure at a high rate." </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Sometime ago, Nepali insurance companies used to insure hydropower projects at economical rates. At that time, foreign companies had stopped reinsuring. The Insurance Board then set the minimum rate for such insurance. After that, it was easier to reinsure hydropower projects. However, companies say there are still problems with large projects. </span></span></p>
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<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Hydropower projects and road infrastructures have been affected recently due to increasing number of natural calamities. As a result, insurance claims are also increasing.</span></span></p>
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<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Chunki Chhetri, president of the Nepal Insurance Association and CEO of Sagarmatha Insurance, said that they are facing mounting challenge to reinsure hydropower projects by foreign companies. He added that large projects are particularly facing more problems.</span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">"It has become easier to reinsure small hydropower projects after the Insurance Board fixed the minimum rate of non-life insurance. However, it is difficult to reinsure large projects," he said, adding, "Recently, claims from the hydropower and road projects have increased. As a result, reinsurance of road and hydropower projects has become a challenge." </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">He says that foreign companies have not been able to meet the criteria for reinsurance set by the government. "They are profit-oriented companies, so it is natural for them to try to do safe business," he said. "This problem arises as the hydropower sector has become risky. We are forced to reinsure at a high rate." </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Sometime ago, Nepali insurance companies used to insure hydropower projects at economical rates. At that time, foreign companies had stopped reinsuring. The Insurance Board then set the minimum rate for such insurance. After that, it was easier to reinsure hydropower projects. However, companies say there are still problems with large projects. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Executive Director of the Insurance Board Raju Raman Poudel said that foreign companies have started reinsuring after fixing the minimum rate. However, he said that there could be problems in the case of big projects. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">While foreign companies are refusing to reinsure the hydropower projects, power producers of Nepal have been protesting against the minimum insurance rate. Poudel said that the power producers should understand the technical problems of the insurance sector and accept the minimum rate. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Stakeholders say that if foreign companies refuse to reinsure, the premium may have to be further increased. </span></span></p>
<p> </p>
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'summary' => 'March 7: Foreign reinsurance companies have been reluctant to reinsure hydropower projects due to the rise in incidents of natural disasters such as floods and landslides hitting hydropower projects. ',
'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">March 7: Foreign reinsurance companies have been reluctant to reinsure hydropower projects due to the rise in incidents of natural disasters such as floods and landslides hitting hydropower projects. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Hydropower projects and road infrastructures have been affected recently due to increasing number of natural calamities. As a result, insurance claims are also increasing.</span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Hence, foreign companies have been reluctant to reinsure hydropower sector. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Chunki Chhetri, president of the Nepal Insurance Association and CEO of Sagarmatha Insurance, said that they are facing mounting challenge to reinsure hydropower projects by foreign companies. He added that large projects are particularly facing more problems.</span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">"It has become easier to reinsure small hydropower projects after the Insurance Board fixed the minimum rate of non-life insurance. However, it is difficult to reinsure large projects," he said, adding, "Recently, claims from the hydropower and road projects have increased. As a result, reinsurance of road and hydropower projects has become a challenge." </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">He says that foreign companies have not been able to meet the criteria for reinsurance set by the government. "They are profit-oriented companies, so it is natural for them to try to do safe business," he said. "This problem arises as the hydropower sector has become risky. We are forced to reinsure at a high rate." </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Sometime ago, Nepali insurance companies used to insure hydropower projects at economical rates. At that time, foreign companies had stopped reinsuring. The Insurance Board then set the minimum rate for such insurance. After that, it was easier to reinsure hydropower projects. However, companies say there are still problems with large projects. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Executive Director of the Insurance Board Raju Raman Poudel said that foreign companies have started reinsuring after fixing the minimum rate. However, he said that there could be problems in the case of big projects. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">While foreign companies are refusing to reinsure the hydropower projects, power producers of Nepal have been protesting against the minimum insurance rate. Poudel said that the power producers should understand the technical problems of the insurance sector and accept the minimum rate. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Stakeholders say that if foreign companies refuse to reinsure, the premium may have to be further increased. </span></span></p>
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<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Hydropower projects and road infrastructures have been affected recently due to increasing number of natural calamities. As a result, insurance claims are also increasing.</span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Hence, foreign companies have been reluctant to reinsure hydropower sector. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Chunki Chhetri, president of the Nepal Insurance Association and CEO of Sagarmatha Insurance, said that they are facing mounting challenge to reinsure hydropower projects by foreign companies. He added that large projects are particularly facing more problems.</span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">"It has become easier to reinsure small hydropower projects after the Insurance Board fixed the minimum rate of non-life insurance. However, it is difficult to reinsure large projects," he said, adding, "Recently, claims from the hydropower and road projects have increased. As a result, reinsurance of road and hydropower projects has become a challenge." </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">He says that foreign companies have not been able to meet the criteria for reinsurance set by the government. "They are profit-oriented companies, so it is natural for them to try to do safe business," he said. "This problem arises as the hydropower sector has become risky. We are forced to reinsure at a high rate." </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Sometime ago, Nepali insurance companies used to insure hydropower projects at economical rates. At that time, foreign companies had stopped reinsuring. The Insurance Board then set the minimum rate for such insurance. After that, it was easier to reinsure hydropower projects. However, companies say there are still problems with large projects. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Executive Director of the Insurance Board Raju Raman Poudel said that foreign companies have started reinsuring after fixing the minimum rate. However, he said that there could be problems in the case of big projects. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">While foreign companies are refusing to reinsure the hydropower projects, power producers of Nepal have been protesting against the minimum insurance rate. Poudel said that the power producers should understand the technical problems of the insurance sector and accept the minimum rate. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Stakeholders say that if foreign companies refuse to reinsure, the premium may have to be further increased. </span></span></p>
<p> </p>
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