Kerala Greenlights Group Insurance for Disaster-Affected Homes
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Kerala Approves Group Insurance for Disaster-Hit Homes, Up to Rs 10 Lakh Cover
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News18•24-02-2026, 22:15
Kerala Approves Group Insurance for Disaster-Hit Homes, Up to Rs 10 Lakh Cover
•Kerala government approves comprehensive group insurance scheme for houses damaged by natural disasters.
•Scheme aims to reduce financial burden on government from repeated disaster relief and reconstruction efforts.
•Combines parametric insurance (immediate state compensation based on disaster indicators) and indemnity insurance (direct compensation to BPL house owners).
•Indemnity cover includes damage to houses, household goods, and rental assistance, up to Rs 10 lakh per house.
•Annual cost estimated at Rs 120.75 crore, policy proposed for a five-year period.
