Insurance claims worth Rs 23.5 billion have been received for damage to physical structures during the protests on Bhadra 23 and the demonstrations on Bhadra 24, of which Rs 6 billion have been paid. According to the data as of Magh 5, insurance companies had received claims worth Rs 23.77 billion. 28 million.

Of that, only Rs 5.982 billion has been paid out by the first week of Magh, according to the Insurance Authority.

Insurance companies also say that the claims for damage caused during the protests are the highest so far. Earlier, insurance claims worth Rs 17 billion were made in the 2072 earthquake and about Rs 13 billion in the floods in Asoj last year. The Authority has clarified that the amount paid out until the first week of Magh includes advance payments. The amount paid during that period is only about 25.15 percent of the total claims. Until last week, 3,334 claims have been filed with insurance companies.

The regulatory body, the Insurance Authority, has stated that the claims paid by insurance companies are satisfactory. The Authority claims that insurance payments are made at the same pace in other countries with social and economic conditions like Nepal. The Authority has stated that initial assessment is required for claim payment and that insurance payments have been made in cases where assessment has been completed. It is stated that payment is pending in cases where assessment has not been completed/is in process.

Former President of the Insurance Association, Chunki Chhetri, said that the insurance company has not been able to pay as expected because many claims have not been processed due to the insurance company. According to him, the insurance company does not lack funds for payment. The claims that have been received by the company after the process has been completed have not been stopped. 

Nepal Reinsurance Company has also paid the amount for reinsurance. But he said that the evaluation of some claims has not been completed and some have not even received the minimum required documents. Of the claims paid until the first week of Magh, the highest amount of 4.893 billion rupees is under property insurance (house property). Property insurance includes houses, apartments and other fixed assets. In this insurance, 18.95 billion rupees have been claimed in 716 claims. After property insurance, motor insurance has received the most payments. Of which 1.724 billion rupees have been paid.

Payments of Rs 94.7 million have been made in contractor and engineering insurance, Rs 15.9 million in transit insurance, and Rs 77.7 million in other insurance. Insurance companies have stated that only a small number of claims have been paid due to the lack of evaluation and procedural work, especially in major damages.

Insurance companies say that a large amount of the payments have been made for the payment of insurance premiums. According to them, although it does not take time to pay for insurance of completely damaged vehicles and properties, the companies say that the payment amount is not much because it takes time to receive the surveyor's report in major damages. In the latest demonstration, it was found that 70.54 percent of the insurance claims for damage to physical structures were for vehicle (motor) insurance. So far, 2,330 claims worth about Rs 3.85 billion have been made in vehicle insurance.