Insurers Pay Rs 4.38 Billion for Gen-Z Protest Losses

Non-life insurers in Nepal have paid about Rs 4.38 billion in claims for property, vehicle, and other losses linked to the Gen-Z protests in September, according to the Nepal Insurance Authority (NIA). A total of 3,300 claims worth an estimated Rs 23.44 billion were filed after the protests.

Data submitted by 14 non-life insurers and four micro-insurers show that property insurance accounted for the largest share. Of 710 property claims worth about Rs 19.01 billion, companies have paid roughly Rs 3.12 billion, including advance payments.

Motor insurance claims totalled 2,308, valued at about Rs 3.48 billion. Insurers have disbursed around Rs 1.09 billion so far.

In other categories, engineering and contractors’ risk policies recorded 225 claims worth Rs 555.5 million. Payments stand at Rs 68.1 million. Transport insurance saw 12 claims worth Rs 16.9 million, with payouts of Rs 6.6 million. Forty-five claims under miscellaneous categories, valued at Rs 384 million, have received Rs 4.9 million.

Reinsurance Support Reaches Rs 2.56 Billion

Nepal Reinsurance Company has provided about Rs 2.56 billion to non-life insurers to support claim settlements, including advance payments. The reinsurer has received 2,861 claims from 14 non-life companies. Total reinsurance claims amount to roughly Rs 15.81 billion.