Kathmandu, Dec 17: Insurance claims worth of Rs 5 billion and 180 million has been paid to the insured so far out of the insurance claim for material and other damages incurred during the Gen-Z movement.
In a press release issued today, the Nepal Insurance Authority said that out of a total of 3,303 insurance claims in Non-life Insurance Company, among the claims for Rs 23.45 billion, Rs. 5.18 billion has been paid so far.
The authority said that about Rs 3.82 billion has been paid for property insurance and about Rs 1.22 billion has been paid for motor insurance.
The claim amount has been paid including an advance payment of about Rs 75 million for engineering and contract risk insurance, about Rs 155 million for transport insurance and about Rs 550 million for other insurance.
Similarly, the Nepal Reinsurance Company has paid reinsurance claims, including an advance payment of about Rs3.2 billion to Non-life Insurance Company, for the payment of insurance claims for material and other damages incurred during the Gen-Z movement.
Nepal Reinsurance Company has a total of 2,862 reinsurance claims from 14 different non-life insurance companies with a figure of about Rs 16.62 billion.
