KATHMANDU, OCTOBER 30 — Property damage claims stemming from the violent Gen Z protests of September 8–9 (Bhadra 23–24) have already crossed Rs 20 billion, according to a preliminary report by the Nepal Insurance Authority (NIA) released on Thursday. Officials say the final total could rise even higher as ongoing assessments and new filings continue.
The NIA confirmed that non-life insurance companies have registered 1,984 claims worth Rs 20.7 billion by Bhadra 31. The damages largely involve hotels, restaurants, cable cars, and other tourism infrastructure across major cities.
Major Insurers Facing the Heaviest Losses
The Oriental Insurance Co. Ltd. – Rs 5.15 billion
Siddhartha Premier Insurance – Rs 4.93 billion
Shikhar Insurance – Rs 2.39 billion
IGI Prudential Insurance – Rs 1.59 billion
Sagarmatha Lumbini Insurance – Rs 1.48 billion
Himalayan Everest Insurance – Rs 1.16 billion
Neco Insurance – Rs 1.09 billion
Sanima GIC Insurance – Rs 789 million
Trust Microinsurance – Rs 4.2 million
More than a dozen other insurers have reported smaller but significant claims, highlighting the widespread economic impact of the protests.
The NIA emphasized that these figures are still provisional, as valuation and verification processes are ongoing. “The final total could exceed the current estimate once all affected properties are evaluated and pending claims processed,” an NIA official said.
Tourism and Hospitality Sector Hit Hard
The unrest, which erupted in early September—just as Nepal’s autumn tourism season began—has dealt a serious blow to the hospitality industry. Over 30 hotels, restaurants, and cable car facilities were partially or completely damaged.
Preliminary estimates suggest the Hilton Hotel in Kathmandu alone suffered losses exceeding Rs 800 million. The incident is expected to leave around 2,500 people unemployed in the tourism sector.
Experts warn that such incidents could impact traveler confidence and insurance premiums in the near future. The NIA has urged all insurers to expedite processing while ensuring transparency in claim verification.
