Okay. Bhatbhateni Supermarket and Departmental Stores Private Limited, a private sector company that suffered the biggest losses in the wake of the Gen-G movement, has been closing its stores.
Seven stores in Bhatbhateni have suffered a loss of more than Rs 11 billion due to arson, vandalism and looting. The Bhatbhateni supermarket is estimated to have suffered a loss of more than Rs 15 billion due to attacks, looting and arson on private property under the cover of the protests against the government’s brutal crackdown on demonstrators on September 7.
Bhatbhateni’s total insurance is worth Rs 10 billion. This amount is the sum insured for the building, infrastructure, equipment and goods of all 27 superstores and one warehouse. In this case, it is unlikely that Bhatbhateni will get all the compensation from insurance alone.
Bhatbhateni Supermarket, which has also run a non-life insurance company, is in an under-insurance. Chairman Min Bahadur Gurung has invested in United Ajod Insurance, a non-life insurance company, through Bhatbhateni Supermarket and Super Department Pvt Ltd.
An under-insured condition is defined as an insurance risk that is less than the actual value of the property or risk. In such a situation, the insured cannot claim compensation equal to the actual loss and has to bear the loss equivalent to the uninsured property.
Seven of the 27 superstores and warehouses are still closed due to the fire. The fire had set fire to superstores in Naxal, Maharajgunj, Boudha, Koteshwor, Bharatpur, Hetauda, Biratnagar, Birtamod, Dharan, Damak and Pokhara. Of the 28 stores in Bhatbhateni, 12 were set on fire while nine were vandalized. Seven were not damaged.
The superstores are Tokha, Satdobato, Anamnagar, Tripureshwor, Patan, Kalanki, Radhe Radhe and Balaju. Similarly, stores outside the valley are located in Janakpur, Birgunj, Nepalgunj, Butwal, Dhangadhi, Itahari, and Bhairahawa.
Although the private sector has been calling for the state to protect investment by investigating the incidents of vandalism, theft and arson that took place during the agitation, the government has not shown any interest yet.
