Finance
EnglishKerala launches Rs 10 lakh insurance scheme for homes
Kerala's cabinet has launched a fantastic insurance scheme! Each house will get a coverage of Rs 10 lakh to tackle the chaos of natural disasters. Chief Minister Pinarayi Vijayan is leading this initiative to help families in need, making rescue and relief efforts a bit easier on the state's budget. It’s a smart move for a state facing extreme weather challenges!
few days ago | Amit Kumar
Quick rundown
1.Kerala launches insurance for disaster-damaged homes.
2.Scheme covers Rs 10 lakh per house, costing Rs 120.75 crore annually.
3.Two-part model: parametric for state, indemnity for BPL households.
4.Insurance aims to reduce financial strain from frequent disasters.
5.Kerala sets precedent in formal risk financing for climate resilience.
