Nepal, March 20 -- Nepal spent an average of Rs50 billion annually on post-disaster response between 2012 to 2020, a report said, highlighting the critical need for tailoring insurance coverage to address specific risks and potential scenarios.

Experts on Tuesday said that Nepal needs to factor in all possible contingencies to ensure comprehensive coverage is in place to safeguard against unforeseen challenges.

According to the Global Climate Risk Index for 2000-2019, Nepal ranks as the 10th most affected country in the world, considering the impacts of extreme weather events in terms of fatalities and economic losses.

"Among the seven countries in South Asia that are part of the insurance risk financial facility of the UNDP, Nepal is ...