Insurance Companies Pay NPR 5.48 Billion in Claims for Gen-Z Movement Damages

Kathmandu – Insurance companies have paid approximately NPR 5.48 billion in claim settlements to insured individuals for physical and other damages caused during the Gen-Z movement. According to the Nepal Insurance Authority, a total of 3,316 non-life insurance claims amounting to around NPR 23.47 billion were filed. Based on the latest data, about NPR 3.93 billion has been paid under property insurance, NPR 1.39 billion under motor insurance, NPR 83.6 million under engineering and contractor’s risk insurance, NPR 15.5 million under marine insurance, and nearly NPR 50 million under other insurance categories, including advance payments. Meanwhile, Nepal Reinsurance Company has also disbursed around NPR 3.02 billion, including advance payments, to non-life insurance companies toward reinsurance claims related to the damages.