Kathmandu: Insurance claims worth more than Rs 20.70 billion have been filed so far for damage to public and private physical structures caused by the Gen-G movement on Bhadra 23 and 24. According to the Nepal Insurance Authority, a total of 1,984 insurance claims have been registered with 18 different non-life insurance companies.

Major Insurance Companies Receiving Claims

The Oriental Insurance Company has received the highest claims, totaling Rs 5.14 billion from 40 cases. Siddhartha Premier Insurance Company has registered 258 claims amounting to Rs 4.93 billion, while Shikhar Insurance Company has 366 claims worth Rs 2.39 billion.

IGI Prudential Insurance has reported 24 claims valued at Rs 1.59 billion. Sagarmatha Lumbini Insurance Company received 233 claims worth Rs 1.47 billion, and Himalayan Everest Insurance Company has 196 claims amounting to Rs 1.15 billion.

Other major companies include Neco Insurance with 40 claims worth Rs 1.09 billion, Sanima GIC with 129 claims worth Rs 789 million, and Rastriya Bima Company with 172 claims worth Rs 495 million.

Micro-Insurance Companies Also Affected

Several micro-insurance companies have also reported claims. Protective Micro Insurance filed nine claims worth Rs 11.32 million, Star Micro Insurance filed six claims worth Rs 6.77 million, Nepal Micro Insurance filed 15 claims worth Rs 5.63 million, and Trust Micro Insurance filed eight claims worth Rs 4.2 million.

Association Calls for Swift Claim Processing

The Nepal Non-Life Insurance Association issued a statement urging companies to prioritize the settlement of claims to provide relief to affected individuals and businesses. The association also expressed sorrow over the widespread damage to government buildings, private properties, industries, trade, and transportation systems during the protests.

Association President Rajendra Malla appealed to all insured parties to promptly submit required documents and damage details to speed up the compensation process. He emphasized that insurance companies are committed to fulfilling their social responsibility and will finalize the claim process at the earliest.

Malla highlighted that the experience of the 2072 BS earthquake and the COVID-19 pandemic has demonstrated the critical importance of insurance. He noted that the current proactive approach of insurance companies in addressing losses is a positive and reassuring sign for the future.