Insurance companies receive Rs 22.25bn in claims for losses during protests

KATHMANDU: Insurance companies have received claims totalling Rs 22.25 billion for losses incurred during the Gen-Z protests on September 8 and 9.

Bagmati Province accounted for the highest amount, the Nepal Insurance Authority (NIA) said, with firms submitting 1,343 claims worth Rs 17.97 billion.

According to the NIA, 18 insurance companies, including microinsurers, have received a total of 2,478 claim applications.

The NIA stated that the claims covered losses caused by vandalism and arson at public and private companies, and officials said the volume of claims could rise further given the severity of damage to physical property during the protests.

Oriental Insurance Company and Siddhartha Insurance Company have received claims totalling Rs 5.22 billion and Rs 5.8 billion respectively.

The applications include damage to property, vehicles, engineering and contractor risk, among others.

The NIA said it had received 322 claims from Koshi Province, 246 from Madhesh, 184 from Gandaki, 202 from Lumbini, 22 from Karnali and 159 from Sudurpashchim.

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