Kathmandu, Sept 20: Insurance claims for damages to public and private property incurred during the Gen-Z protests on September 8–9 (Bhadra 23–24) have so far reached Rs 20.70 billion, according to the Nepal Insurance Authority (NIA).
The protests, which turned violent after infiltration, resulted in extensive destruction of government buildings, private infrastructure, businesses, vehicles, and other property across the country. As of now, a total of 1,984 claims have been filed with 18 non-life insurance companies. The claim may further increase, the sources say.
According to the Authority, the largest claim amount was submitted to the Oriental Insurance Company, which received 40 claims worth Rs 5.14 billion. Other insurers reported the following figures:
- Oriental Insurance Company: 40 claims worth Rs 5.15 billion
- Siddhartha Premier Insurance: 258 claims worth Rs 4.93 billion
- Shikhar Insurance: 366 claims worth Rs 2.39 billion
- IGI Prudential Insurance: 24 claims worth Rs 1.59 billion
- Sagarmatha Lumbini Insurance: 233 claims worth Rs 1.47 billion
- Himalayan Everest Insurance: 196 claims worth Rs 1.15 billion
- Neco Insurance: 40 claims worth Rs 1.09 billion
- Sanima GIC: 129 claims worth Rs 789 million
- Rastriya Beema Company: 172 claims worth Rs 495 million
- United Ajod Insurance: 170 claims worth Rs 487 million
- Nepal Insurance Company: 79 claims worth Rs 469 million
- NLG Insurance: 151 claims worth Rs 386 million
- Prabhu Insurance: 69 claims worth Rs 191 million
- National Insurance Company: 19 claims worth Rs 68.2 million
- Protective Micro Insurance: 9 claims worth Rs 11.3 million
- Star Micro Insurance: 6 claims worth Rs 6.7 million
- Nepal Micro Insurance: 15 claims worth Rs 5.6 million
- Trust Micro Insurance: 8 claims worth Rs 4.2 million
The Non-Life Insurance Association of Nepal said insurers are working to expedite the settlement process. It urged policyholders to submit accurate damage details and required documents promptly to facilitate claims.
In a press release, the Association expressed condolences to those who lost their lives in the protests and emphasised the social responsibility of insurers to prioritise claim settlements during this crisis.
Association President Rajendra Malla appealed to insured clients to cooperate by providing full details of their losses. He said companies are committed to concluding the claims process as soon as possible.
Referring to lessons from the 2015 earthquake and the COVID-19 pandemic, Malla noted that the current situation again highlights the importance and utility of insurance, and said the proactive role of insurers during this crisis is both positive and encouraging. #nepal #insurance #genz
