Claim Intimation
Hari Prasad Upadhaya/ Amir Bista - 9801237717

Documents verification and processing
Deepu Khadka - 9801237718

Viber/ Whatsapp, Messenger and IMO related documents and fast track claims
Sunil Luhar - 9801235128
  • Location - Head Office

    Shikhar Biz Centre,Thapathali,
    Kathmandu,Nepal
  • Working Hours

    9:30-5:30pm (Sunday-Friday)
    9:30-1:00pm (Friday) Branches Only
  • Phone No.

    01-4246101
    01-5970010 (call center)
Secret Key

Awesome Developers and Designer.
Thanks for all your Support.


Bhaskar Bajracharya

Web Developer

(:P) Vascar

Rozen Rai

Awesome Designer

(:P) Iron Man AKA Tony

Pragyashree Bista

Web Developer

(:P) Shikhar Advisor

Abin Duwal

Web Developer

(:P) Amazing Spider Man AKA Peter

Insurance Glossary


Shikhar Insurance Company Ltd. (SICL) is an established General Insurance Company promoted by a young team of reputed Industrial and Business Houses involved in various fields like Aviation, Banking, Manufacturing, Trading, Travel Trade, Media Houses


Accident:
An unlooked for mishap or an untoward event, which is not expected or designed.

Deductible or Excess:
The amount of a loss agreed to be borne by the insured himself.

Hazard:
Hazard is the condition, which may create or increase the chance of loss arising from any peril.

Insurance:
Insurance helps to indemnify the financial loss of high value in return of payment of comparatively less amount of money (premium). It is the process of sharing of financial loss of the ‘few’ from a common fund created by the contribution of ‘many’ equally exposed to the same risk.

Insured:
The party who seeks protection against a particular risk and is entitled to receive money from the insurer in the event of the happening of the stated contingency, is known as insured. An insured is generally a policy holder.

Insurer:
The Party which agrees to pay money on the happening of a contingency is known as insurer. Mostly, the insurers are Insurance Companies.

Nominee:
A nominee is the person designated by the policy holder to receive the proceeds of an insurance policy, upon the death of the insured.

Peril:
Peril is the cause of loss. For example, fire, earthquake etc.

Policy:
The document which contains the terms and conditions of the insurance contract is termed as the insurance policy.

Premium:
The amount which is paid by the insured to the insurer as consideration of the insurance contract is known as premium. In simple words, premium is the price of insurance.

Reinsurance:
When insurers insure a risk again, it is called reinsurance. Reinsurance is the mechanism of risk transfer from the insurers to the reinsurers. Reinsurers can be direct insurers and/or specialized reinsurance company. As insurance is a contract between insured and insurers, so Reinsurance is a contract between insurers and reinsurers.

Risks:
Risks is uncertainty about financial loss. There are two types of risks. First is the Speculative Risk, where financial loss is difficult to measure and cannot be insured. Second is the Pure risk, where the financial loss can be measured and can be insured.

Salvage:
Property which is saved from loss or damage.

Sum Insured:
The monetary limit of liability of insurers.