Billions in Losses Reported from Gen Z Protests; Insurers Prepare for Large-Scale Claims

Kathmandu — The Gen Z movement of Bhadra 23 and 24 has resulted in property damages worth billions of rupees, with destruction ranging from the Hilton Hotel in Kathmandu to automobile showrooms in Thapathali. Vehicles, houses, offices, warehouses, and commercial establishments across the country have also been severely affected.

While official loss figures have not yet been released, initial reports confirm extensive damage to both public and private property, along with multiple casualties. In response, the Nepal Insurance Authority has begun preparations to streamline the claims process for those affected.

The authority confirmed that there will be no difficulty in settling claims, as riot and terrorism coverage is mandatory under property insurance policies. This incident is expected to trigger significant payouts under that category.

Nepal Insurers’ Association President Birendra Baidawar Chhetri stated that discussions are underway to ensure that claims are processed swiftly and efficiently. “Preparations are being made to make the insurance claim process faster and simpler, given the large number of claims expected,” he said.

The protests caused widespread destruction not only in the Kathmandu Valley but also in various cities across the country, damaging industries, businesses, shops, and homes. Insurance companies are now bracing for one of the largest waves of claims in recent years.