Royal Insurance Corporation of Bhutan Limited - RICB

After heavy rainfall this morning, a flood affected the National Housing Development Corporation Limited (NHDCL) colony in Phuentsholing, damaging homes, property, and infrastructure.

Officials from our Phuentsholing Main Office visited the affected area to assess the extent of the damage. During the preliminary inspection, it was observed that the damage is largely limited to flooring, doors, internal and external walls, plumbing and sanitary fixtures, electrical transformer units, MCB boxes, drains, and railings.

In addition, external drains serving a few buildings, along with an electrical transformer and water pumps located outside the structures, have also been impacted. A nearby load-bearing single-storied building belonging to NHDCL has also been affected, though the damage is limited only to its extended portion. However, our officials stated that the damages or losses aren't as bad as they appear in the picture.

From an insurance coverage perspective, only Building SB-1 has been affected, with damage reported to its internal walls, flooring, MCB box, and plumbing system.

We have requested the insured to formally notify us of the claim in writing, providing detailed information and submit to us a loss estimate for further processing.

During these challenging times, we stand with those affected and remain committed to providing the necessary support and assistance.

We encourage everyone to stay safe, remain vigilant, and take appropriate precautionary measures to protect lives and property.

We, in collaboration with K.M. Dastur Insurance and Reinsurance Brokers Pvt. Ltd., held a meeting with Druk Holding & Investment (DHI) on 19 June 2026 to discuss Drone Insurance solutions.

During the session, Mr. Rajul from K.M. Dastur Insurance and Reinsurance Brokers delivered an insightful presentation on drone insurance, covering key aspects including policy coverage, benefits, requirements, and emerging industry trends. He also addressed various queries raised by DHI, facilitating a productive and engaging discussion.

This meeting represents a significant step toward collaboration among the three organizations in developing innovative and practical insurance solutions that align with evolving market needs.

We value this partnership and look forward to working together to deliver meaningful insurance products and services for the benefit of our stakeholders.

.m.dasturinsuranceandreinsurancebrokerspvt.ltd

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A leadership workshop on Performance Management was organized for the Heads of Departments, Divisions, and Units on 15 June 2026. Following this, on June 17, 2026, the same workshop was conducted for Branch Managers.

The workshop aimed to strengthen leaders’ understanding of performance management and enhance their ability to guide and develop their teams. Participants were introduced to the core elements of the performance management cycle, including goal setting, performance monitoring, coaching, review, and rating.

The session emphasized the importance of the ALIGN–MEASURE–REVIEW–BOOST framework, which serves as the foundation for an effective performance management system. It highlighted the need to align individual goals with organizational objectives, measure performance against agreed targets, review progress periodically, and boost performance through continuous feedback and development.

Participants were also introduced to the What–How–Impact Model, which was presented as the success formula for effective performance management. The model focuses on what is achieved, how results are delivered, and the impact created for the organization, reinforcing a holistic approach to performance evaluation and employee development.

The workshop further stressed that the Company’s ultimate goals and strategic direction should be clearly understood by every employee to ensure collective success and accountability.

The session focused on the ALIGN Framework, MEASURE Framework, R-Model, and BOOST Framework and was led by A.C. Velankanan, Co-Founder and Partner of FACTpace.

Our Branch Offices across the country are actively assessing reported damage of the earthquake to facilitate compensation for affected households.

In Mongar Dzongkhag, more than 147 households have reported damage to the Mongar Branch Office, and officials visited the affected Gewogs, which include Balam, Narang, Drametse, Thangrong, Sherimung, Chaskhar, Ngatshang, Chali, Mongar, and Drepong Gewogs. Additionally, Gyalposhing Branch Office has completed the inspection of 68 households from the Gewogs of Khengkhar, Jurmey, Saleng, Silambi, Gongdue, and Tsamang.

Moreover, Khuruthang Branch Office has inspected over 200 affected households in Punakha Dzongkhag. Similarly, Samtse Branch Office has visited Khempagang, Norbugang, and Thongsar in Tading Gewog following claim notifications from affected households.

In Samdrup Jongkhar Dzongkhag, damage has been reported in several Gewogs, including Gomdar, Samrang, Martshala, Orong, Phuntshothang, and Dewathang, where claim assessments have been conducted. Officials from the Gelephu Branch Office have conducted claim verification in Chudzom Gewog, and officials from the Tsirang Branch Office have also visited affected Gewogs to assess damage and verify claims reported by households.

As the primary insurer in the country, RICB remains committed to supporting affected communities during this challenging period. Compensation will be released promptly as per the assessment report and verification of eligible claims.

Royal Insurance Corporation of Bhutan Limited and Gerab Financials Limited signed a Credit Life Insurance Agreement on the 16th of June, 2026, to provide credit life insurance coverage for its loan clients under the Quende Ngensung Life Policy.

Click https://www.ricb.bt/notice-inviting-sealed-bid-3/

In Samdrup Jongkhar, we conducted an insurance literacy programme for the employees of Serja Breweries Private Limited.

Moreover, a refresher course was also provided for 10 Sales Executives on the revised Sales Executive Guidelines.

Further, we will continue to hold similar refresher courses and capacity-building initiatives in other Dzongkhags.

We extend our heartfelt congratulations to Prem Lal Dungyel on his appointment as the Branch Manager of Phuntsholing Main Branch Office.

This well-deserved achievement is a reflection of your dedication and perseverance throughout the years. Your commitment and professionalism have been truly inspiring, and we are confident that your leadership and expertise will continue to inspire your team and contribute greatly to the continued growth and success of the Company.

Wishing you every success in this new role. Congratulations and best wishes for the journey ahead.

1. What is Motor Comprehensive Insurance?

Motor Comprehensive Insurance provides coverage for damage or loss to your own vehicle in addition to third-party liability.

2. What does Comprehensive Insurance cover?

• Damage or loss to your own vehicle
• Third-party liability
• Optional add-ons such as Towing & Recovery

3. Is there an age limit for Comprehensive Insurance?

• Imported from third countries – Up to 20 years
• Imported from India – Up to 15 years
• Two-wheelers – Up to 10 years
• Miscellaneous – Up to 10 years
Claims-free and well-maintained vehicles may be considered beyond these limits subject to inspection.

4. How is the Sum Insured determined?

For New Vehicles:
• Based on invoice value including taxes and duties.
• For quota vehicles, taxes and duties may be included or excluded (loading applies if excluded).

For Old Vehicles/Renewals:
• Based on current market value
• Less applicable depreciation.

5. Is GST applicable on the Motor Comprehensive Insurance premium?

Yes, a 5% GST is applicable on the net payable premium.

6. What are deductibles?

Deductibles (excess) are the amount you pay before the insurer pays the balance of a claim. Applicable for older vehicles insured beyond the prescribed age. A fixed deductible applies for excavators.

7. What is No Claim Bonus (NCB)?

NCB is a reward for not making claims during your policy period.
• Transferable to another vehicle of the same category under the same owner
• Transfer allowed between spouses, parents & children (with documents)
• Transferable from other insurance companies (with proof)
• Renewal allowed within 6 months to retain NCB
• NCB certificate valid for 3 years (if applied within 6 months)
NCB is removed only after settlement of a claim.

8. What documents are required?

• Duly filled and signed Proposal Form
• Invoice (for new vehicles not registered)
• Registration document (for old vehicles)
• Power of Attorney (for quota vehicles)
• Physical inspection (for new vehicles).