Insurance companies have settled only around one-third of the Rs23.53 billion in claims filed for property damage caused during the Gen Z protests on September 8 and 9, 2025, nine months after the unrest.

According to the latest data from the Nepal Insurance Authority, insurers received 3,664 claims worth Rs23.53 billion for damage to businesses, vehicles and other physical infrastructure. So far, they have paid Rs7.62 billion, or about 32 percent of the total claimed amount.

While insurers and the regulator describe the pace of settlements as satisfactory, business representatives say many affected firms are still waiting for compensation.

Kamlesh Kumar Agrawal, president of the Nepal Chamber of Commerce, said relatively straightforward claims were settled early, while more complex cases have been delayed because of incomplete documentation and procedural requirements.

“I do not believe insurance companies deliberately delayed payments,” Agrawal said. “Some claims have been held up because the required documents were not submitted. It is a procedural issue rather than an intentional delay.”

Anjan Shrestha, president of the Federation of Nepalese Chambers of Commerce and Industry, said only about one-quarter of the claims had been fully settled.

“Many companies have started rebuilding damaged properties with their own resources even though they have not yet received full insurance compensation,” he said.

Insurers maintain they have paid all claims for which documentation and loss assessments have been completed.

“Survey reports for large claims are still pending,” said Chanki Chhetri, former president of the Nepal Insurers' Association. “Almost all claimants have received advance payments. Full settlement of major claims has been delayed because the assessment process has not yet been completed.”

Chhetri said the payout level should be viewed in context.

“Although claims worth Rs23.53 billion were submitted, the actual payable amount is likely to be around Rs14 billion to Rs15 billion,” he said. “Against that figure, the payments made so far are reasonable.”

Insurance companies said much of the money already disbursed has been paid as advance compensation. While total-loss claims, particularly for vehicles, can be settled relatively quickly, large property claims require detailed assessments by independent surveyors before final payments can be made.

The Insurance Authority also defended the pace of settlements.

A senior authority official, speaking on condition of anonymity, said survey reports for several major claims, including those involving Hilton Kathmandu and Bhatbhateni Supermarket, have yet to be completed. Some claims have also become disputed, further delaying payments.

“In terms of the number of claims, most have already been settled,” the official said. “What remains are relatively few but very large claims.”

The official added that investigations into share transactions and company directors at Himalayan Reinsurance Limited made insurers more cautious over the past one to two months, slowing claim settlements.

The authority has since been regularly summoning insurance and reinsurance companies and directing them to expedite pending payments.

It maintains that Nepal's claim settlement timeline is comparable to that of countries with similar economic and social conditions, adding that claims are paid once preliminary assessments are completed, and the necessary documentation is verified.

Of the total amount paid so far, property insurance accounts for the largest share at Rs5.32 billion. The category, which covers buildings, apartments and other fixed assets, also recorded the highest value of claims, with 721 claims worth Rs19.13 billion.

Motor insurance ranks second, with payouts totalling Rs2.05 billion. Insurers have also paid Rs139.9 million under contractor and engineering insurance, Rs17 million under marine cargo insurance, and Rs94.1 million under other insurance categories.

Property insurance accounts for around 70 percent of all claims arising from the protest-related damage, while Bagmati Province recorded the highest concentration of insured losses.