Non-life insurers settle Rs 4.02 billion out claims worth Rs 23.43 billion
KATHMANDU, Nov 29: Nepali insurance companies have settled 17.15 percent of the insurance claims against the property damages caused during the Gen Z movement in early September.
Insurers settle Rs 789.30 million of Rs 12.26 billion in Septem...
As per the records with the Nepal Insurance Authority (NIA), non-life insurers received 3,255 claims against the damages during the incidents of September 8-9. The total insurance claim stands at Rs 23.43 billion.
As of now, the insurance companies cleared Rs 4.02 billion against the claims they had received. According to the government records, 695 residents and office buildings were vandalized and burnt during the protests. Out of the insurance claims of Rs 19.03 billion for damaged buildings, the insurers paid Rs 3.09 billion.
Similarly, 2,295 claims worth Rs 3.44 billion for damage to private vehicles were registered with the insurance companies. Of the amount, victims were paid Rs 848.50 million.
Of the 209 claims under engineering and contract risks amounting Rs 550.04 million, insurers have settled Rs 66.9 million. Likewise, Rs 16.9 million for transport insurance and Rs 391.8 million under others heading have been settled.
As of now, Nepal Reinsurance Company has paid Rs 2.51 billion to the insurance companies. The reinsurer received 2,860 claims worth Rs 15.81 billion.
