Naidu asks insurance companies to provide affordable products

New Delhi : The Vice President of India M Venkaiah Naidu on February 11, 2018, asked the  insurance companies to ensure availability of products at an affordable price. He was addressing the valedictory session of the 4th South Asian Insurance Regulatory Meet and International Insurance Conference at Hyderabad. Deputy Chief Minister of Telangana  Mohammad Mahmood Ali and other dignitaries were present on the occasion.

The Vice President said that ageing population, frequent occurrence of natural calamities and lack of uniform medical care are major challenges facing the SAARC countries. He asked the insurance companies to increase the penetration in the country to help the aging population.  The thrust must be on covering all the vulnerable and marginalised sections to ensure quality healthcare and oppressed and suppressed sections of the society must be our priority, he added, according to a PIB release.

The Vice President said that in view of the frequent natural calamities such as cyclones, unseasonal heavy rains, drought, disaster and catastrophe, insurance must be at the top of the agenda to insurance companies and regulators. He said that Cyber security and cyber liability insurance have become vital in the present times with criminals increasingly hacking and stealing valuable information of organizations and individuals. There has to be a broad consensus on reforms and the centre and states must work together to ensure  reforms are implemented properly, Naidu added.