Insurance claims from Gen Z protests top Rs 20.7 billion
According to the Nepal Insurance Authority, a total of 18 non-life insurance companies have received claims.
KATHMANDU: Insurance claims amounting to Rs 20.70 billion have been filed so far for damages caused during the Gen Z movement on Sept 8 and 9 (Bhadra 23–24).
The protests inflicted heavy losses on both public and private properties.
According to the Nepal Insurance Authority, a total of 18 non-life insurance companies have received claims.
The highest number of claims was filed at The Oriental Insurance Company, which received 40 claims worth Rs 5.14 billion.
Siddhartha Premier Insurance Company received 258 claims totaling Rs 4.93 billion, while Shikhar Insurance Company registered 366 claims amounting to Rs 2.39 billion.
Other major companies include IGI Prudential Insurance (Rs 1.59 billion), Sagarmatha Lumbini Insurance (Rs 1.47 billion), Himalayan Everest Insurance (Rs 1.15 billion), and Neco Insurance (Rs 1.09 billion).
Smaller firms were also affected. Protective Micro Insurance Company received claims worth Rs 113.2 million, Star Micro Insurance Rs 6.7 million, Nepal Micro Insurance Rs 5.6 million, and Trust Micro Insurance Rs 4.2 million.
The Nepal Insurers’ Association said it is committed to expediting the settlement of claims and has urged affected policyholders to promptly submit all necessary documents.
In a statement, the association emphasized the growing importance of insurance in times of crisis, assuring that companies are working responsibly to deliver compensation as quickly as possible.
Association President Rajendra Malla appealed to policyholders to cooperate by providing detailed damage reports, while noting that insurers are determined to conclude settlements at the earliest.
Reflecting on the lessons from the 2015 earthquake and the COVID-19 pandemic, Malla said the current situation has once again highlighted the critical role of insurance.
The association also expressed condolences to those who lost their lives during the movement and deep sorrow over the destruction of key infrastructures, including the President’s Office, Parliament building, security agencies, administrative structures, industries, transport, and private properties.
The statement urged all concerned authorities to prioritize timely claim settlements as the country works through the aftermath of the crisis.
