Fiscal Nepal
First Business News Portal in English from Nepal
KATHMANDU: The aftermath of the recent Gen Z protests has resulted in a massive wave of insurance claims amounting to Rs 22.25 billion, according to the Nepal Insurance Authority. The majority of the claims have been filed from Bagmati Province, reflecting the scale of damage concentrated in the capital and surrounding areas.
Data released by the Authority shows that Bagmati Province alone accounts for Rs 17.97 billion worth of claims, with 1,343 applications submitted. Nationwide, a total of 2,478 insurance claims have been registered across 18 insurance companies, including micro-insurance firms.
The claims stem largely from arson, vandalism, and property destruction that occurred during the September 8–9 demonstrations, when government and private infrastructures were targeted. The Authority clarified that most applications were lodged under property insurance due to widespread damage to private assets.
Among insurance companies, Oriental Insurance Company received the largest single volume of claims, amounting to Rs 5.22 billion, while Siddhartha Insurance registered Rs 5.08 billion worth of claims.
By category, insurers received 538 property insurance claims, 1,778 motor insurance claims, 132 engineering and contractor risk claims, 11 transport claims, and 19 in other categories.
Provincial data highlights the concentration of claims: Koshi (322), Madhesh (246), Bagmati (1,343), Gandaki (184), Lumbini (202), Karnali (22), and Sudurpaschim (159).
Officials at the Nepal Insurance Authority have warned that the total figure could rise further as more assessments are completed. The scale of destruction has raised concerns in the business and investment community, with the insurance sector facing one of the largest collective compensation challenges in Nepal’s recent history.
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