Thiruvananthapuram, Feb. 24 -- In a major policy decision aimed at strengthening disaster resilience, the Kerala Cabinet today granted in-principle approval for a comprehensive group insurance scheme to protect houses damaged by natural calamities across the state.
The scheme, to be implemented through the State Insurance Department, is designed as a long-term financial safeguard mechanism in view of the frequent floods, landslides and extreme weather events that have led to recurring expenditure on rescue, relief, rehabilitation and reconstruction, placing sustained pressure on the state's finances.
To devise a viable risk transfer strategy, the government had earlier constituted a committee under Planning Board member Ravi Raman.
The p...