Government to Insure All Public Property After Gen Z Protest Losses

Kathmandu — In a landmark decision for Nepal’s insurance industry, the government has announced it will begin insuring public property, a move long demanded by general insurance professionals. The policy shift follows the extensive damage to government structures during the recent Gen Z protest, which destroyed buildings and vehicles across the country, including parts of Singha Durbar.

The Cabinet meeting of the interim government held on Ashoj 5 (September 21) formally endorsed the decision, which is being hailed as a “historic achievement” for the sector. Until now, government property remained largely uninsured, with the state itself bearing the burden of losses caused by natural disasters, vandalism, or conflict.

“This decision sends a strong message of accountability. If citizens are expected to insure their property, the government must lead by example,” said Sushildev Subedi, Executive Director of the Nepal Insurance Authority, which has been pressing for such a reform in its annual recommendations.

Officials say even partial implementation — covering just buildings and vehicles — will add billions of rupees in premiums and nearly double the size of Nepal’s non-life insurance market. Joint Secretary and Ministry of Finance spokesperson Tanka Prasad Pandey noted that the heavy destruction of state assets during the protest was a turning point. He also added that without insurance, the government couldn’t even quantify its own losses.

The Ministry of Finance has begun consultations with the Insurance Authority to create a blueprint for valuing government property, a necessary first step before policies can be issued. Currently, no systematic property valuation exists, making it difficult to calculate either the losses or the premiums required. The authority is now compiling detailed data from affected agencies, with a full damage assessment expected within a month.

Experts caution that implementation will not be easy. The Authority’s previous studies highlight major challenges in evaluating assets, determining costs, and selecting appropriate insurance models. To address this, the Authority has recommended a blanket insurance scheme that could simplify coverage for public assets nationwide.