Damage Claims Registered by Insurers

Insurance companies in Nepal have received damage claims totaling over Rs. 23.22 billion following the recent Gen Z protests, according to the Nepal Insurance Authority (NIA). The claims encompass losses reported to 14 non-life insurance companies and four micro non-life insurers.

Number of Claims and Settlements

As of Wednesday, a total of 3,099 insurance claims had been registered with insurers. So far, companies have settled claims worth Rs. 1.29 billion, while the remaining cases are still under assessment.

Damage Assessment Efforts

To evaluate the reported losses, insurance companies have deployed 2,706 surveyors. Of these, 374 surveyors have submitted their reports to the respective insurers for processing. The ongoing assessments aim to ensure accurate compensation and facilitate timely settlements.

Conclusion

The high volume and value of claims highlight the significant economic impact of the Gen Z protests on businesses and property in Nepal. Insurance companies continue to accelerate survey and settlement processes, emphasizing efficient handling to support affected individuals and enterprises.