Over Rs 5 Billion in Insurance Claims Settled for Damages During Gen-Z Movement

Kathmandu – Out of the total insurance claim amount for physical and other damages caused during the Gen-Z movement, Rs 5.18 billion has been paid to the insured to date.

The Nepal Insurance Authority issued a press release stating that this amount has been settled against approximately Rs 23.45 billion in total claims arising from 3,303 insurance claims filed with non-life insurance companies.

The Authority informed that approximately Rs 3.82 billion has been paid under property insurance and approximately Rs 1.22 billion under motor insurance.

Furthermore, the claim payments were made including advance payments of approximately Rs 75 million for engineering and contract risk insurance, approximately Rs 15.5 million for marine insurance, and approximately Rs 55 million for other insurance categories.

Approximately Rs 3.02 Billion in Reinsurance Claims Paid Including Advance Payments The Nepal Reinsurance Company has paid approximately Rs 3.02 billion, including advance payments, to non-life insurance companies to facilitate the payment of insurance claims for physical and other damages during the Gen-Z movement.

According to updated data, there are a total of 2,862 reinsurance claims amounting to approximately Rs 16.62 billion filed with the Nepal Reinsurance Company by 14 different non-life insurance companies.