2015 has been amongst the most challenging years for Nepal, particularly with the catastrophic earthquake in April claiming thousands of lives and the crisis that came with the economic blockade in the later months worsening the already vulnerable state of victims. With homes and buildings having mercilessly collapsed and the very expensive reconstruction that was required, disaster insurance was a natural subject of interest.
In light of this, Samriddhi Foundation has released its exploration of the plausible causes for underinsurance against such calamity in the country. The paper, ‘Disaster Under-Insurance in Nepal (A look at supply side constraints in the Insurance Industry in Nepal)’ aims to analyze underinsurance under the framework of institutional arrangements and consumer decision-making processes.
“Economic agents are risk-averse. They will always try to minimize risks. Insurance provides a pragmatic solution to minimize losses from various risks through a risk-sharing mechanism. A solid insurance sector promotes entrepreneurship and boosts investor’s confidence.” – Dinesh Karki, Co-Author
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