Siddhartha Premier Insurance Pays Rs. 1.25 Billion in Claims to Gen-Z Protest Victims Within 23 Working Days
Kathmandu – Nepali insurance companies have demonstrated their reliability by not only insuring but also swiftly compensating their clients. Siddhartha Premier Insurance Company has set a benchmark by paying insurance claims worth Rs. 1.25 billion to victims of the Gen-Z protest within just 23 working days.
Despite challenges such as curfews imposed after the protest and the Dashain holidays, the company’s employees worked tirelessly to ensure timely compensation. With this, Siddhartha Premier Insurance has established itself as one of Nepal’s leading claim-paying insurance companies.
According to the company, a total of Rs. 1.26 billion—including advance and final payments—has been disbursed as of Friday afternoon. The prompt payment has provided significant relief to entrepreneurs and business owners affected by the Gen-Z movement.
Speaking to Beemapost, CEO Birendra Baidwar Chhetri said the company prioritized claim settlements for losses to personal, public, government, and industrial properties caused by arson and vandalism during the protest on Bhadra 23 and 24, 2082 BS. He added that Siddhartha Premier Insurance is proud to have paid Rs. 1.25 billion to date by expediting advance payments.
The company reported that a total of Rs. 5.49 billion in claims have been filed under 357 insurance policies for damages caused during the protest. Of these, 105 claims have been fully settled, while Rs. 1.26 billion has been released as advance payments, Chhetri said.
Siddhartha Premier Insurance has paid the claims under its Riot and Terrorism Insurance policy. The company had earlier fulfilled its obligations effectively during the flood damages of Ashwin 2081 BS, maintaining its reputation for reliability.
In a press release issued on Friday, the company stated, “Even in adverse circumstances, we stand firmly with our insured clients and are fully committed to restoring their financial stability.” Siddhartha Premier Insurance has urged remaining insured individuals to submit the necessary documents promptly to expedite the claim settlement process.
CEO Chhetri emphasized that Siddhartha Premier Insurance continues to uphold its core principle — “receive insurance premiums in cash and pay insurance claims in cash” — without compromise.
Altogether, Nepali insurance companies have disbursed Rs. 2.198 billion so far out of the total Rs. 23 billion in claims filed nationwide for damages related to the Gen-Z protest.