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Government's New Plan: Safeguarding Your Earnings from Natural Disasters
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Government Plans 'Nat-Cat' Insurance Pool to Protect Hard-Earned Money from Disasters
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News18
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24-02-2026, 15:00
Government Plans 'Nat-Cat' Insurance Pool to Protect Hard-Earned Money from Disasters
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Central government developing a 'Natural Catastrophe' (Nat-Cat) risk insurance pool to provide a financial safety net during major disasters.
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This initiative aims to shift from reliance on government relief or individual savings for disaster losses.
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Home Secretary and Finance Secretary to meet on February 27 to discuss the plan, coordinating disaster management and financial stability.
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The pool will aggregate natural disaster risks among insurance companies, distributing risk and making premiums affordable.
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Common people will benefit from faster, more transparent compensation for damages to homes, shops, or livelihoods after disasters.
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