Insurance companies receive claims of over Rs 22 billion

Kathmandu, Sept 23: The insurance companies have received the claims of Rs 22.25 billion for the loss incurred during the Gen-Z protests happened on September 8 and 9.

The highest amount of claims was received from Bagmati Province, according to the Nepal Insurance Authority. The firms in Bagmati Province have claimed Rs 17.97 billion as insurance by submitting altogether 1,343 claims. According to the Authority, 18 insurance companies including the micro insurance companies have received a total of 2,478 applications for the claims.

The Authority stated that the insurance claims were made for the losses caused in the public and private companies from vandalism and arson. However, the officials said that the volume of claims for insurance could further rise given the intensity of the damage to physical properties during the protests. The Oriental Insurance Company and Siddhartha Insurance Company have received the claims for Rs 5.22 billion and Rs 5.8 billion, respectively.

The applications for insurance claims include damages to property, vehicles, engineering and contractor risk, and others. The Authority shared that 322 claims were received from Koshi Province, 246 from Madhes, 184 from Gandaki, 202 from Lumbini, 22 from Karnali and 159 from Sudurpaschim Province.