Insurance Claims from Gen Z Protests Reach NPR 23.39 Billion

The Gen Z protests of Bhadra 23 and 24 caused widespread destruction of physical infrastructure across Nepal. According to the Nepal Insurance Authority, insurance claims related to these damages have already reached NPR 23.39 billion, and the number is expected to rise further as applications continue to be filed.

So far, a total of 2,988 insurance claims have been registered. These include 594 property insurance claims, 2,209 motor insurance claims, 144 engineering and contractor risk insurance claims, 11 transport insurance claims, and 30 other categories of insurance claims.

In terms of provincial distribution, the highest number of claims has come from Bagmati Province, with 1,608 applications. Following that, Koshi Province reported 377 claims, Madhesh 323, Gandaki 219, Lumbini 254, Karnali 25, and Sudurpaschim 182.

Company-wise, the largest insurance claim has been filed with Siddhartha Premier Insurance, amounting to NPR 5.45 billion. Similarly, The Oriental Insurance has received claims worth NPR 5.23 billion, IGI Prudential Insurance NPR 2.79 billion, Shikhar Insurance NPR 2.39 billion, and Sagarmatha Lumbini Insurance NPR 1.57 billion.

Altogether, claims have been lodged with 14 non-life insurance companies and 4 micro-insurance companies across the country. The Insurance Authority noted that, given the extent of physical damage, both the number and total value of claims are likely to increase in the coming days.