KATHMANDU, Sept 20: The Nepal Insurers’ Association (NIA) has pledged to expedite the settlement of claims related to damages caused in the aftermath of the Gen Z movement.
In a press release issued on Friday, the NIA urged insurance companies to prioritize claim settlements for losses incurred during last week’s protests. “The insured are requested to forward the necessary documents to their respective insurers as soon as possible to receive their payments,” the statement read.
According to the NIA, insurers have already received claims worth Rs 20.70 billion linked to damages from the protests. NIA President Rajendra Malla said insurance companies are committed to settling the claims promptly.
The September 8 and 9 demonstrations turned violent, with protesters vandalizing and setting fire to a significant number of public and private properties. Records from the Nepal Insurance Authority show that insurers had received a total of 1,984 claims as of Tuesday.
The claims relate exclusively to private properties and business entities. Since public infrastructure is not insured, insurers are only responsible for covering government-owned vehicles under existing policies.