Nagaland Signs MoU with SBI General Insurance for Disaster Risk Transfer Parametric Insurance Solution
| Aspect | Details |
|---|---|
| Event | State Government and SBI General Insurance signed an MoU for Disaster Risk Transfer Parametric Insurance Solution (DRTPS). |
| Significance | Nagaland becomes the first state in India to implement this disaster management insurance. |
| Aim | Safeguard the state against natural calamities and ensure comprehensive coverage for the entire state. |
| Participants | Nagaland State Disaster Management Authority (NSDMA) and SBI General Insurance. |
| Chief Minister | Neiphiu Rio expressed gratitude to the Ministry of Home Affairs and other agencies for facilitating the agreement. |
| Coverage | Insurance covers the entire state, including both rural and urban areas. |
| Premiums | The state will pay part of the premium without overburdening the exchequer, with the insurance company also contributing. |
| Types of Disasters | Covers major disasters like droughts and mudslides, providing financial protection for property and crops. |
| Key Officials | Chief Secretary Nagaland, Dr. J Alam, and Advisor NSDMA and NRE, Z Nyusietho Nyuthe, were present. |
| Important Facts | Capital of Nagaland: Kohima; Chief Minister: Neiphiu Rio; Nagaland was previously part of Assam; State Bird: Blyth's tragopan; Demonym: Nagas; Districts: 16. |