Model Insurance Villages

  • On 3rd May, 2021, the Insurance Regulatory and Development Authority of India (IRDAI) suggested setting up model insured villages across the country to increase insurance penetration in rural areas with special focus on agriculture and allied activities.

Objective

  • The idea behind the model village concept is to offer comprehensive insurance protection to all the major insurable risks that villagers are exposed to and make available covers at affordable or subsidised cost.

Need

Low Awareness in Rural Areas

  • oIndia is predominantly rural with more than 65% of the population residing in rural areas, where agriculture and allied activities are the ....
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