Kathmandu, Dec 20:  Non-life insurance companies have paid about Rs 5.18 billion to policyholders for losses caused during the Gen Z protests held on Bhadra 23 and 24. A total of 3,303 insurance claims were filed for physical damage and related losses. The total claimed amount stood at around Rs 23.45 billion.

Updated data submitted to the Insurance Authority by 14 non-life insurers and four micro non-life insurers show that payments include advance settlements. Under property insurance, 710 claims were filed with a total claim value of around Rs 19.02 billion. Of this, about Rs 3.82 billion has been paid so far. Motor insurance saw 2,311 claims amounting to about Rs 3.47 billion, with payments reaching nearly Rs 1.22 billion.

In the engineering and contractor risk category, 225 claims were filed, totaling about Rs 554.7 million. Around Rs 75 million has been paid. Transport insurance recorded 12 claims worth about Rs 16.9 million, with payments of nearly Rs 15.5 million. Under other insurance categories, 45 claims were lodged for around Rs 384 million, and about Rs 55 million has already been paid, including advance payments.

To support these settlements, Nepal Reinsurance Company has provided around Rs 3.02 billion to non-life insurers, including advance reinsurance payments. According to the latest figures, Nepal Reinsurance Company has received 2,862 reinsurance claims from 14 non-life insurers, with the total claimed amount reaching approximately Rs 16.62 billion.

The data shows that while a large portion of claims remains under assessment, insurers have begun releasing funds to affected policyholders. Payments are expected to continue as claim verification and loss assessments progress in the coming months.

People’s News Monitoring Service

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