The recent Gen Z movement in Nepal has not only sparked nationwide attention but also led to massive financial losses. According to the Insurance Board, insurance claims related to the protests have already reached 23.22 billion rupees.
The damages mainly involve factories, business buildings, and other physical properties affected during the unrest. By the end of Ashoj 22, a total of 3,099 insurance claims had been filed across the country.
Fourteen non-life insurance companies and four micro non-life insurers are currently handling these cases. Out of the total claimed amount, about 1.29 billion rupees have already been paid as advance or partial settlements to affected parties.
To verify the extent of the damage, insurance companies have sent 2,706 surveyors to the field. So far, 374 survey reports have been completed and submitted, while many others are still being processed.
Officials said the total payout could rise even higher as more surveys are finalized. The Insurance Board continues to monitor the situation, noting that the Gen Z movement has had a significant impact on Nepal’s industrial and financial sectors.
