Insurance claims following Gen‑Z protests total more than Rs 23.22bn: NIA

KATHMANDU: Following the Gen‑Z protests on September 8 and 9, insurance claims for damage to physical structures amount to Rs 23,227.8 million, Nepal Insurance Authority (NIA)reported. As per the NIA, non‑life insurance companies have disbursed payments totalling Rs 1,585.6 million to date.

The NIA said payments were expedited owing to proactive measures to ensure insurance funds were made available swiftly.

So far the NIA has recorded 3,099 insurance claim applications. Of these, 153 are property insurance claims, 2,206 are motor insurance claims, 190 are engineering and contract risk insurance claims, 12 are transport insurance claims and 38 are other insurance claims.

By province, claims submitted are: Koshi Province 396, Madhesh 355, Bagmati 1,669, Gandaki 212, Lumbini 246, Karnali 22 and Sudurpashchim 199. This data is current as of October 9.

The NIA reported that Siddhartha Insurance Company has received the highest claims, totalling Rs 5,614.4 million and has disbursed Rs 594.4 million to policyholders. The Oriental Insurance has received claims amounting to Rs 5,244.7 million, with payments of Rs 570,000 made. IGE Prudential Insurance has claims worth Rs 2,759.7 million and has paid Rs 304.3 million to the insured. Shikhar Insurance has reported claims of Rs 2,408.6 million, with Rs 319.4 million already disbursed.

There are currently 18 non‑life insurance companies, including micro‑insurance firms, operating nationwide.

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