PK Mishra calls for expanding insurance coverage across diverse sectors

NEW DELHI: Expressing concern over rising frequency and intensity of disasters globally, including in India, Prime Minister's principal secretary P K Mishra has advocated for a strategic vision to expand insurance coverage across diverse sectors and entities. He said ensuring that insurance is not only available but also accessible to the most vulnerable is a key challenge.

Mishra was speaking at a National Disaster Management Authority (NDMA) workshop on 'Why Disaster Risk Insurance Matters - Key Concepts and Benefits' on Friday.

According to an official statement issued on Saturday, Mishra deliberated about the government's likely role in supporting expansion of insurance coverage.


He also posed several questions such as, "Should the government act as a catalyst, facilitating the growth of the insurance market, or should it take a more direct role such as purchasing insurance for certain sectors? How should the government create public-private partnerships that improve the outreach of insurance services and products?".

He added that these questions directly relate to the fiscal sustainability of insurance-related interventions.