Model Insurance Villages

The Insurance Regulatory and Development Authority of India (IRDAI) has come out with the concept of Model Insurance Villages (MIV). The idea behind the MIV concept is to offer comprehensive insurance protection to all the major insurable risks that villagers are exposed to and make available covers at an affordable or subsidised cost.

Such MIVs are expected to tackle losses due to natural calamities like floods and earthquakes. There’s no catastrophe insurance in India now.
The concept would be implemented in a minimum of 500 villages in different districts of the country in the first year and increased to 1,000 villages in the subsequent 2 years. It will be implemented for 3 to 5 years.
Every general insurance company and reinsurance company accepting general insurance business and having office in India needs to be involved for piloting the concept.
In order to make the premium affordable, financial support needs to be explored through NABARD, other institutions, CSR funds, support from the government and reinsurance companies.
This is to ensure that families and their property, and crops get cover and the entire village community participate in the initiative.

Source: PIB

Join Our Telegram

Oceanic Anoxic Event 1a and MASS EXTINCTION

Oceanic Anoxic Event 1a and MASS EXTINCTION

25 Dec, 24
SHARE

Oceanic Anoxic Event 1a from the Paris Basin (Environment) Paper-3 PMP OAE 1a refers to a period during the Cretaceous Period (145 million years ago and ended 66 million years ago) when Earth's oceans became depleted of oxygen, causing a significant disruption in marine life. Cause: The event is believed to have been

Viksit Panchayat Karmayogi (Good governance)

26 Dec, 24
SHARE

Viksit Panchayat Karmayogi (Good governance) Governance GS PAPER-2 PMP Dr. Jitendra Singh launched the ‘Viksit Panchayat Karmayogi’ initiative on Good Governance Day, celebrated to mark the 100th birth anniversary of former Prime Minister Atal Bihari Vajpayee. The initiative, which is part of the broader ‘Prashasan Gaon

Major programmes to control Air Pollution

23 Dec, 24
SHARE

Major programmes to control Air Pollution National Clean Air Programme? It was launched by the Ministry of Environment, Forests and Climate Change (MoEFCC) in January 2019. It is the first-ever effort in the country to frame a national framework for air quality management with a time-bound reduction target. The

Air pollution and Air quality Measures in India

21 Dec, 24
SHARE

Air pollution and Air quality Measures in India (Environment) GS Paper-3 P-M-P Air pollution may be defined as the presence of any solid, liquid or gaseous substance including noise and radioactive radiation in the atmosphere in such concentration that may be directly and/or indirectly injurious to humans or other l

Geopolitical Significance of Ports

20 Dec, 24
SHARE

Geopolitical Significance of Ports (IR) Act as geopolitical assets: Ports enhance the projection of strategic reach, which helps strengthen the country’s control over important sea and energy supply routes. E.g. Indian Navy’s staging base at Agalega Islands will enable marine patrols