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Model Insurance Villages
May 11 , 2021
1220 days
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- 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 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.
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