Tata AIG General Insurance Company Limited, the Lead Insurer for Nagaland under the Insurance Regulatory and Development Authority of India’s (IRDAI) State Insurance Plan (SIP), participated in the first State-Level Insurance Committee (SLIC) meeting held in the State. Chaired by Shri Kesonyu Yhome, IAS, Finance Commissioner, Government of Nagaland, the meeting brought together officials from IRDAI, Tata AIG, Government Departments and insurance companies to discuss measures to strengthen insurance penetration and bridge the insurance protection gap across Nagaland. Shri Yhome highlighted the high vulnerability of the State to various natural calamities, the high- seismicity and landslide prone conditions requiring adequate insurance coverage cover. He urged all Government Departments to assess insurance requiring encompassing sectors including Motor, Home, MSMEs, Assets and Other risks as well as explore bringing Nagaland under the Pradhan Mantri Fasal Bima Yojana (PMFBY) scheme and to ensure achieving the national vision of “Insurance for All by 2047” when the country and the State achieve Viksit Bharat and Nagaland.
Mr. Madhukar Sinha, President, Government & Rural Business, Tata AIG, explained the State Insurance Plan (SIP) framework, the role of the Lead Insurer and initiatives to reduce the State’s protection gap. IRDAI officials appreciated the Chief Secretary and the State Government for their commitment towards implementing SIP and strengthening insurance protection. The meeting highlighted that nearly 1.20 lakh people have received claims of around ₹300 crore over the last two years under various State insurance initiatives, including Chief Minister’s Health Insurance Scheme, Chief Minister’s Life Insurance Scheme and the Digital Piggery Insurance initiative. The meeting reaffirmed Nagaland’s commitment to the national vision of “Insurance for All by 2047”, with a focus on wider, affordable and accessible insurance protection across the State.
