Insurance Claims from Gen Z Movement Top Rs. 30 Billion
Insurance claims linked to the Gen Z protests have surged to Rs. 30 billion, with final figures likely to rise further, regulator says.
Insurance claims stemming from the Gen Z protests of Bhadra 23 and 24 have already reached Rs. 30 billion, according to the Nepal Insurance Authority. The figures reflect damage inflicted on both public and private assets, with vandalism and arson driving up liabilities for insurers.
While the full extent of losses is still under evaluation, the regulator noted that total claims are expected to climb higher in the coming weeks. Non-life insurance companies and reinsurers face heavy exposure, with billions in compensation liabilities anticipated.
The Gen Z demonstrations, which shook the nation, left behind significant destruction of infrastructure, vehicles, and commercial properties. Analysts say the surge in claims could weigh heavily on the insurance sector’s profitability and test the resilience of Nepal’s reinsurance framework.