Principal Secy to PM calls for expanding insurance coverage across sectors

Expressing concern over an increase in the frequency and intensity of disasters globally, including in India, Dr PK Mishra, Principal Secretary to Prime Minister, has called for a strategic vision for expanding insurance coverage across diverse sectors. He underscored the need for a robust actuarial expertise and a well-defined legal framework.

Addressing a workshop organised by the NDMA on Friday, Mishra said the emerging trends highlight India’s potential to innovate in its application of disaster risk insurance and join the global trend toward more resilient, efficient and inclusive insurance solutions.

According to an official statement, Mishra said ensuring that insurance was not only available but also accessible to the most vulnerable is a key challenge.

Mishra mentioned two notable government-backed insurance programmes, Pradhan Mantri Fasal Bima Yojana (PMFBY) and Ayushman Bharat. He said both these initiatives are central to the government’s broader agenda of promoting social equity, financial inclusion, and household-level risk management, demonstrating the critical intersection of insurance with development goals.