20.7 C
Tura

Nagaland becomes 1st Indian state to implement disaster management insurance

Must read

Kohima, Aug 3: Making Nagaland the first state in the country to implement the disaster management insurance, the state government and SBI General Insurance have signed a Memorandum of Understanding (MoU) for Disaster Risk Transfer Parametric Insurance Solution (DRTPS).

A parametric multi-year risk transfer solution, it will aid in protecting the State’s critical infra. & reduce economic losses due to disaster.

Advertisement

The memorandum was signed on Friday at the Chief Minister’s office in Kohima.

Nagaland chief minister Neiphiu Rio announced that the new insurance partnership was aimed at safeguarding the state against natural calamities.

Advertisement

He said agreement signed between SBI General Insurance and Nagaland State Disaster Management Authority (NSDMA) ensures comprehensive coverage for the entire state.

Taking to X (formerly twitter), Rio said, “The State Govt. & @sbigeneral signed an MoU for DRTPS, making Nagaland the 1st Indian state to implement this disaster mngt. insurance. A parametric multi-year risk transfer solution, it will aid in protecting the State’s critical infra. & reduce economic losses due to disaster.”

Read: Sexual abuse of minor uncovered in Garobada market in Garo Hills

WATCH:

Find latest news from every corner of Northeast India at hubnetwork.in, your online source for breaking news, video coverage.

Also, Follow us on-

Twitter-twitter.com/nemediahub

Youtube channel- www.youtube.com/@NortheastMediaHub2020

Instagram- www.instagram.com/ne_media_hub

Download our app from playstore – Northeast Media Hub

More articles

-->
-->

Latest article