Inclusive insurance and risk financing in Nepal. Snapshot and way forward 2024

Inclusive insurance and risk financing in Nepal. Snapshot and way forward 2024

March 19, 2024

This report presents the main findings of UNDP’s inclusive insurance and risk finance country diagnostic for Nepal. It sets out key risks, the current inclusive insurance and disaster risk finance landscape, and recommendations to advance inclusive insurance, risk finance and development.

Nepal’s top hazards include floods, landslides, earthquakes and drought. Legal instruments include provisions on microinsurance, and government-subsidized agriculture insurance reaches smallholder farmers. A national disaster risk strategy and implementation plan are in place.

Recommendations include expanding inclusive insurance distribution channels and conducting demand-side research; building capacity on disaster risk financing; and addressing gaps in disaster risk assessment.