PM’s Principal
Secretary pitches
for diverse
insurance• Страхование solutions
PM’s Principal Secretary pitches for diverse insurance• Страхование solutions
Updated - September 21, 2024 at 06:21 PM. | New Delhi• Индия » Населенные пункты Индии » Города Индии » Нью-Дели,
Dr Mishra talked about the challenge to ensure that insurance• Страхование is not only
available but also accessible to the most vulnerable section of the society
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Dr P K Mishra, Principal Secretary to Prime Minister
Dr PK Mishra, Principal Secretary to Prime Minister Narendra Modi, has
suggested diverse insurance• Страхование solutions as a sustainable cover for an
ever-expanding group at affordable rates, while maintaining a growing and
viable risk pool• Страхование » Страховой пул.
Addressing a National Disaster Management Authority’s (NDMA) Workshop, Dr
Mishra expressed concern over an increase in the frequency and intensity of
disasters globally, including in India, and advocated a strategic vision for
expanding insurance• Страхование coverage across diverse sectors and entities. The Workshop
on “Why Disaster Risk• Страхование » Риск Insurance• Страхование Matters – Key Concepts and Benefits” took
place on Friday.
At the same time, the Principal Secretary to the PM underscored the need for a
robust actuarial expertise and a well-defined legal framework. At the
workshop, Dr Mishra talked about the challenge to ensure that insurance• Страхование is not
only available but also accessible to the most vulnerable section of the
society.
In this context, he said that government’s role in expansion of insurance• Страхование
becomes important and highlighted two notable similar programmes of the Modi
regime, Pradhan Mantri Fasal Bima Yojana which focusses on agriculture sector
and Ayushman Bharat which provides health insurance coverage to economically
disadvantaged individuals.
Range of stakeholders
Dr Mishra recommended to explore the introduction of large-scale disaster risk• Страхование » Риск
insurance• Страхование to address the significant protection gap in this under-insured
area. He emphasised that, this would involve designing differentiated
insurance• Страхование products and services for a range of stakeholders, including
households, small businesses, utilities, infrastructure services, and various
levels of government – local, State, and Central.
Underlining key challenge which lies in ensuring the financial viability of
these mechanisms, Dr Mishra insisted that the success of any insurance• Страхование model
depends on effectively distributing risks. He said that not only it is vital
to ensure that those who pay premiums see it as a sensible and cost-effective
way to transfer their risks; but also, those responsible for pay-outs have
access to a sufficiently large risk pool• Страхование » Страховой пул to maintain financial viability.
He strongly stressed that globally, the development of diversified insurance• Страхование
products for disaster risks is gaining momentum. In this endeavour, he further
added that, NDMA and Department of Financial Services• Экономика » Финансы » Финансовые услуги
• Сфера услуг » Финансовые услуги’ (DoFS) diverse outreach
to global and domestic, private and public institutions in order to gain
deeper insights into these financial structures will surely assist in building
a robust disaster insurance• Страхование market in India.
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Published on September 21, 2024