Indian Clarity

Light. Truth. Clarity.

Loading ad...
AI

Cabinet nod for comprehensive group insurance scheme to protect houses from disasters

Published - February 24, 2026 08:23 pm IST - THIRUVANANTHAPURAM The Kerala Cabinet meeting held in Thiruvananthapuram on Tuesday gave in-principal approval to implement a comprehensive group insurance scheme in the State to ensure financial security against damage to dwellings (or human habitations) due to natural calamities. The scheme will be implemented through the State Insurance department. The insurance scheme was devised against the backdrop of the recurring calamities that cause a big strain on the financial security of the State in terms of emergency response, relief, rehabilitation, and reconstruction.

Cabinet nod for comprehensive group insurance scheme to protect houses from disasters

Credit: Thehindu

Key Highlights

  • The scheme would be implemented as per the recommendations of a committee headed by K.
  • Ravi Raman, member of the State Planning Board, which conducted a study to formulate a risk transfer mechanism suitable for the State.
  • The committee recommended implementing an innovative ‘Risk Transfer Mechanism’ on the 'Climate Risk Insurance' model to shoulder the liabilities arising out of disasters.
  • Along with this, the committee also recommended developing a ‘Parametric Insurance' system on the Nagaland model.
  • The Rebuild Kerala Initiative (RKI) has also conducted a study on this.
Loading ad...

Sources

  1. Cabinet nod for comprehensive group insurance scheme to protect houses from disasters

This quick summary is automatically generated using AI based on reports from multiple news sources. The content has not been reviewed or verified by humans. For complete details, accuracy, and context, please refer to the original published articles.

Related Stories

Loading ad...