Kathmandu: Insurance claims amounting to Rs 23 billion 227 million 800 thousand have been recorded following the Gen-Z protests that took place on September 8 and 9. Non-life insurance companies have so far disbursed a total of Rs 1 billion 585 million 600 thousand in payments, as reported by the Nepal Insurance Authority.
According to National News Agency Nepal, the disbursement of payments was expedited due to proactive measures taken by the Authority to ensure that funds were readily available to those affected. A total of 3,099 insurance claim applications have been received. These include 153 property insurance claims, 2,206 motor insurance claims, 190 engineering and contract risk insurance claims, 12 transport insurance claims, and 38 other types of insurance claims.
The distribution of claims across different provinces is as follows: 396 claims in Koshi Province, 355 in Madhesh, 1,669 in Bagmati, 212 in Gandaki, 246 in Lumbini, 22 in Karnali, and 199 in Sudurpashchim Province. This data is current as of October 9.
Siddhartha Insurance Company has recorded the highest number of claims, with a total of Rs 5 billion 614 million 400 thousand. It has disbursed Rs 594.4 million to policyholders. The Oriental Insurance has received claims totaling Rs 5 billion 244 million 700 thousand and has made payments amounting to Rs 570 thousand. IGE Prudential Insurance has claims worth Rs 2 billion 759 million 700 thousand and has distributed Rs 304.3 million. Shikhar Insurance has reported claims of Rs 2 billion 408 million 600 thousand, with Rs 319.4 million already paid out.
Currently, there are 18 non-life insurance companies, including micro insurance firms, operating across the nation.