KATHMANDU, Oct 12: The damage caused by arson and vandalism during the protests on September 8 and 9 has resulted in insurance claims totaling Rs 23.22 billion. According to the most recent data from the Nepal Insurance Authority, non-life insurance companies have already paid out Rs 1.58 billion in compensation.
The authority said the prompt settlement was possible due to its proactive efforts to ensure quick and smooth payment. A total of 3,099 insurance claims have been filed. Of these, 653 are for property insurance, 2,206 for motor insurance, 190 for engineering and contract risk insurance, 12 for transport insurance, and 38 for other categories.
By province, Koshi recorded 396 claims, Madhes 355, Bagmati 1,669, Gandaki 212, Lumbini 246, Karnali 22, and Sudurpaschim 199. These figures are as of October 9.
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Siddhartha Insurance received the highest number of claims, totaling Rs 5.61 billion, and has paid Rs 594.4 million so far. The Oriental Insurance received claims worth Rs 5.24 billion and has paid Rs 570,000.
IGI Prudential Insurance has received claims amounting to Rs 2.75 billion and has paid Rs 304.3 million. Shikhar Insurance received claims of Rs 2.40 billion and has paid Rs 319.4 million.
Currently, 18 non-life insurance companies, including micro-insurance firms, are operating across the country. While private properties damaged by arson and vandalism during the protests were insured, government and public assets were found to have no insurance coverage
