DFS Secretary Dr. Vivek Joshi chairs meeting with private sector General Insurers for growth and development of insurance sector with continuous collaborative efforts

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..... DFS Secretary Dr. Vivek Joshi chairs meeting with private sector General Insurers for growth and development of insurance sector with continuous collaborative efforts
News and Press Release
Dated:- 18-10-2023

Dr Vivek Joshi, Secretary, Department of Financial Services (DFS), Ministry of Finance, chaired a meeting with General Insurance Council and the leaders and CEOs of private sect .....

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..... or general insurance companies in New Delhi. Several critical issues having implications for the general insurance sector were discussed in detail. These included: - * Awareness building through continuous interaction with States under State Insurance Plans to increase insurance penetration and coverage * Distribution channel rationalisation in opening up of the agency channel for the general .....

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..... insurance industry to increase insurance penetration * Coordinating with State Governments and Ministry of Road Transport and Highways to initiate a special drive to ensure compliance of Motor Vehicles' Act * Collaboration with Ministry of Health for increasing cashless facility and standardization of treatment costs to boost growth of health insurance * Encourage adoption of Property/Param .....

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..... etric covers to mitigate financial losses due to natural catastrophes. Devising mechanism to cover the Micro, Small and Medium Enterprise sector * Exploring linking of Insurance frauds to the CIBIL score to prevent / mitigate frauds After fruitful deliberations and focused exchange of opinions on these matters, Dr. Joshi directed DFS officials to take them up actively for resolution. It was als .....

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..... o decided that regular meetings will be held with the industry - both private and public sector - so that the growth and development of the insurance sector in facilitated with continuous collaborative efforts.
News - Press release - PIB .....

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