The Gen Z protest on Bhadra 23 and 24 caused massive destruction across Nepal, with losses estimated in billions of rupees. In Kathmandu, vehicles in showrooms, houses, hotels, and office buildings were damaged. Similar destruction was reported in other parts of the country, affecting industries, shops, warehouses, and homes.
While no official damage report has been released yet, there are also unconfirmed reports of lives lost. With property destruction on such a large scale, the big question is whether all of it is covered by insurance.
According to the Nepal Insurance Authority, property insurance in Nepal includes coverage for terrorism and riots. This means most of the damage caused during the protest should qualify for claims. Officials say the payout process should not face major hurdles.
Nepal Insurers’ Association president Birendra Baidawar Kshetri confirmed that companies are preparing to make the claims process faster and easier. Since this incident is expected to trigger a large number of claims, insurance firms are holding discussions on how to manage them smoothly.
The final cost of the protest may take time to calculate, but insurance coverage is expected to play a major role in helping property owners recover their losses.
