Kohima, Aug 3: Making Nagaland the first state in the country to implement the disaster management insurance, the state government and SBI General Insurance have signed a Memorandum of Understanding (MoU) for Disaster Risk Transfer Parametric Insurance Solution (DRTPS).
A parametric multi-year risk transfer solution, it will aid in protecting the State’s critical infra. & reduce economic losses due to disaster.
The memorandum was signed on Friday at the Chief Minister’s office in Kohima.
Nagaland chief minister Neiphiu Rio announced that the new insurance partnership was aimed at safeguarding the state against natural calamities.
He said agreement signed between SBI General Insurance and Nagaland State Disaster Management Authority (NSDMA) ensures comprehensive coverage for the entire state.
Taking to X (formerly twitter), Rio said, “The State Govt. & @sbigeneral signed an MoU for DRTPS, making Nagaland the 1st Indian state to implement this disaster mngt. insurance. A parametric multi-year risk transfer solution, it will aid in protecting the State’s critical infra. & reduce economic losses due to disaster.”
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