Kathmandu, October 12
Following the Gen-Z protests on September 8 and 9, the physical structures that sustained damage have filed insurance claims amounting to Rs 23 billion 227 million 800 thousand. As per the latest information from the Nepal Insurance Authority, non-life insurance companies have disbursed payments totaling Rs 1 billion 585 million 600 thousand.
Reports indicate that these payments were expedited due to the proactive measures taken by the Authority to ensure that insurance funds were made available swiftly.
To date, the Authority has recorded a total of 3,099 insurance claim applications. Among the claims, 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.
In Koshi Province, 396 claims have been submitted, in Madhesh 355, in Bagmati 1,669, in Gandaki 212, in Lumbini 246, in Karnali 22, and in Sudurpashchim Province 199. This data is current as of October 9. The Authority reports that Siddhartha Insurance Company has received the highest claims, totaling Rs 5 billion 614 million 400 thousand. The company has disbursed Rs 594.4 million to the policyholders.\
Additionally, The Oriental Insurance has received claims amounting to Rs 5 billion 244 million 700 thousand, with payments of Rs 570 thousand made. IGE Prudential Insurance has claims worth Rs 2 billion 759 million 700 thousand, and has distributed Rs 304.3 million to the insured. Shikhar Insurance has reported an insurance claim of Rs 2 billion 408 million 600 thousand, with Rs 319.4 million already made available.
Currently, there are 18 non-life insurance companies, including micro insurance firms, operating nationwide.
