Insurance Claims worth 22.25 Billion

Kathmandu, Sept 24: Insurance claims for damages incurred during the Gen Z movement have reached Rs 22.25 billion.

According to the Nepal Insurance Authority, the highest number of insurance claims is in Bagmati Province, with claims worth Rs 17.97 billion. A total of 2,478 insurance claims have been filed in 18 insurance companies, including micro insurance companies. The number of claims may increase further due to the large amount of physical property damage.

The claims for compensation for the damage however come only from the private sector, as government structures were not insured. According to the details provided by the Authority, claims worth Rs 5.22 billion have been filed in Oriental Insurance Company alone. Similarly, Siddhartha Insurance has received applications seeking claims for damage worth Rs 5.08 billion.

Among the total applications seeking insurance claims, 538 applications were received for property insurance, 1,778 for vehicle insurance, 132 for engineering and contractor risk, 11 for transportation insurance, and 19 for other kinds insurance.