Kathmandu. Insurance companies are facing claims worth Rs 50 billion due to the fire and vandalism in the name of the Genji movement.

Due to the agitation of Jenji, insurance claims worth about Rs 50 billion will be made for the loss of property in various places and business areas of the valley.

On September 23, the youth of the Genji generation started the movement. On the first day of the protests, 19 youths and students died. The death toll has exceeded 50 and hundreds of injured are in hospital. The Zenji group, angered by the government’s crackdown on protests on Monday and the deaths of young protesters, carried out attacks, vandalism and arson across the country on Tuesday.

Min Bahadur Gurung’s Bhatbhateni has paid the highest insurance claim. Most of the branches of Bhatbhatani have been set on fire, vandalized and looted. As a result, the loss is estimated to be more than Rs 10 billion. According to Hotel Association of Nepal, around 2 dozen hotels have suffered heavy damages during the agitation. As a result, it is estimated that more than Rs 25 billion has been damaged in hotels across the country.

According to the association, hotels operating in Kathmandu Valley, Pokhara, Butwal, Bhairahawa, Jhapa, Morang, Biratnagar, Dhangadhi, Mahottari, Dang, Tulsipur, among other places have been vandalized. The Hilton Hotel in Kathmandu has suffered a loss of more than Rs 8 billion due to arson and looting.

According to preliminary estimates, the hotel sector across the country has suffered a financial loss of more than Rs 25 billion. As a result, insurance companies have to pay insurance worth Rs 25 billion to hotel companies. The Nepal Insurance Authority (NEA) has directed the non-life insurance companies and non-life insurance companies to pay the insurance claims as soon as possible. The NRA has also directed the authorities to provide details of the damage caused by the riots.

Similarly, incidents of vandalism, arson and looting during the movement of Jenji have also caused a huge loss to the Chaudhary Group. According to Karan Chaudhary, managing director of Chaudhary Group, decades of hard work, sacrifice and investment of Chaudhary Group have been shattered in a matter of hours. The group has suffered a loss of more than Rs 2 billion due to the arson of the family’s house, damage to factories and offices, looting of various showrooms.

The Ullens School was burnt down. The fire also gutted Kantipur Media Group, vehicles, commercial vehicles and private vehicles. Anyone who has to pay their insurance claims. More than 1,000 of the burnt vehicle rooms are in the full insurance building. Similarly, some companies, including the house of Shekhar Golchha, have also been vandalized, set on fire and looted. Similarly, institutions including Global College have also been set on fire. Which has to be paid by the insurance companies.

CEO of Sagarmatha Lumbini Insurance, Chunky Chhetri, said that the non-life insurance company will also work to pay the claim as soon as possible. “It is not yet known how much damage was caused. He says, “As soon as the exact data comes, the insurance company will start paying the damage.” According to Chhetri, the government building has not been insured yet. However, he said that the insurance company will pay the insurance claim if the damage caused to the private sector and even the houses of some leaders are insured.