Insurance Claims Worth Rs 23.22 Billion Filed After Gen Z Protests

Insurance companies have received claims worth Rs 23.22 billion for damages caused during the Gen Z protests on September 8 and 9. According to the latest data from the Nepal Insurance Authority, non-life insurance companies have already paid Rs 1.58 billion in compensation.

The regulatory body said insurance companies made swift advance payments due to its proactive efforts to ensure timely and smooth claim settlements. So far, a total of 3,099 insurance claims have been filed. Of these, 653 are property insurance, 2,206 vehicle insurance, 190 engineering and contractor’s risk insurance, 12 transport insurance, and 38 other categories.

Province-wise, 396 claims have been filed in Koshi, 355 in Madhes, 1,669 in Bagmati, 212 in Gandaki, 246 in Lumbini, 22 in Karnali, and 199 in Sudurpaschim. The figures are based on data as of October 9.

Siddhartha Insurance received the highest number of claims, totaling Rs 5.61 billion, and has paid Rs 594.4 million so far. The Oriental Insurance received claims amounting to Rs 5.24 billion and has disbursed Rs 570,000. IGI Prudential Insurance reported claims worth Rs 2.76 billion and paid Rs 304.3 million, while Shikhar Insurance received Rs 2.41 billion in claims and settled Rs 319.4 million.

Currently, 18 non-life insurance companies, including micro-insurers, are operating across the country. Although private properties damaged in the arson and vandalism during the protests were insured, government and public properties were found to be uninsured. -- RSS