Gandaki Province Records Rs 1.13 Billion in Insurance Claims from Gen Z Protests

Kathmandu — The Gen Z protests that began on Bhadra 23 has triggered significant financial losses in Gandaki Province, with initial insurance claims amounting to Rs 1.13 billion filed by affected parties. According to the Gandaki office of the Nepal Insurance Authority, a total of 159 insurance claims had been registered in the province as of Bhadra 30.

Himalayan Everest Insurance has reported the largest exposure, with nine claims worth Rs 500 million. Sagarmatha Lumbini Insurance has received claims worth Rs 350 million under 50 policies, while Shikhar Insurance has reported claims of Rs 75 million from five cases. Similarly, the state-owned Rastriya Beema Company has received 20 claims amounting to Rs 70 million, and Siddhartha Premier Insurance has reported Rs 50 million from 15 claims.

Other insurers have also registered significant losses. Neco Insurance has received 16 claims worth Rs 44.5 million, IGI Prudential Insurance has reported three claims worth Rs 31.5 million, and The Oriental Insurance has received 13 claims amounting to Rs 30 million. Sanima GIC Insurance and United Ajod Insurance have each reported claims of Rs 20 million, while NLG Insurance has registered six claims worth Rs 8 million. Nepal Micro Insurance has also reported five claims amounting to Rs 2.5 million.

Source: National Insurance Authority

According to the Authority, no claims have been received so far from Nepal Insurance, Prabhu Insurance, Protective Micro Insurance, Star Micro Insurance and Trust Micro Insurance. The Nepal Insurance Authority has directed all companies to accelerate the collection of details and ensure speedy claim settlements to provide timely relief to those affected. Insurance companies, in response, have mobilized employees and surveyors in the field to assess damages and facilitate compensation as quickly as possible.

The Authority emphasized that early settlement of claims is essential to reduce the financial burden on individuals and businesses that have suffered losses in Gandaki Province due to the Gen Z protests.