The recent Gen Z movement in Nepal has left a huge financial impact. According to Nepal Insurance Authority, insurance claims worth more than 23 billion rupees have already been filed for damages caused during the protest on September 8 and 9.
Types of claims filed
So far, nearly 2,988 claims have been registered. These include property insurance, motor insurance, engineering and contract risk, transport insurance, and other categories. Property and motor insurance make up the largest share of claims.
Most claims from Bagmati
Bagmati Province has reported the highest number of claims, with over 1,600 applications. Other provinces like Koshi, Madhesh, Gandaki, Lumbini, Karnali, and Sudurpaschim have also recorded hundreds of cases each. Authorities believe the total number of claims will rise further as assessments continue.
Big claims from major insurers
Several big insurance companies are facing massive claim requests. Siddhartha Premier Insurance alone has received claims worth over 5.45 billion rupees. The Oriental Insurance has around 5.23 billion in claims, while IGI Prudential, Shikhar Insurance, and Sagarmatha Lumbini Insurance are also handling multi-billion-rupee claims.
Sector under pressure
In total, 14 non-life insurance companies and four micro-insurance firms across Nepal are dealing with the pressure of these claims. The final figure is expected to rise, adding more strain to the insurance sector.
