Kathmandu, Oct 12: Insurance companies have received claims totaling Rs 23.22 billion for losses from the September 8–9 unrest that saw widespread arson and vandalism. Data from the Nepal Insurance Authority shows non-life insurers have settled Rs 1.58 billion so far.
The regulator said faster payouts were made possible through its direct oversight and coordination with insurers. Altogether, 3,099 claims have been registered, mostly for motor and property coverage. These include 2,206 motor, 653 property, 190 engineering and contract risk, 12 transport, and 38 under miscellaneous categories.
Bagmati Province reported the most cases at 1,669, followed by Koshi with 396, Madhes 355, Lumbini 246, Gandaki 212, Sudurpaschim 199, and Karnali 22. The figures are current as of October 9.
Siddhartha Insurance tops the list with Rs 5.61 billion in claims, having paid Rs 594.4 million. The Oriental Insurance received claims worth Rs 5.24 billion but has settled only Rs 570,000. IGI Prudential Insurance has disbursed Rs 304.3 million against Rs 2.75 billion in claims, while Shikhar Insurance has paid Rs 319.4 million out of Rs 2.40 billion.
Eighteen non-life insurance companies, including micro-insurers, are currently active nationwide. Most insured losses involve private property, while government and public infrastructures were found to have no insurance coverage.
People’s News Monitoring Service
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