VIDEO | Parliament Winter Session: On Insurance Bill, Congress MP Karti Chidambaram (
@KartiPC) says, "We are one of the most under insured countries in the world, we must make insurance practically universal. Post Covid, people became little bit more aware about insurance, and they've started taking health, and life insurance... We should encourage almost universal insurance, there are some government schemes which offer insurance, still our coverage is not universal. While FDI is welcome, one must also recollect, when FDI was first allowed in insurance, the BJP vehemently opposed it, now they have brought full FDI, so they have changed their mind, hope they realise what they did in past was wrong. But most importantly, when insurance companies come to India, we must also set guidelines for settlement, because most insurance companies operate under principle called, 'first deny, and then delay', we must have framework for settling claims in a humane way, not in a mechanical way reject people... I have seen it happening, be it accidental death, or even crop insurance. Crop insurance is a complicated mater, because we are using block assessment method... A lot of times, individual farms fail, but the crops in blocks succeed, they take average... They are bringing new tools, but there should be humane approach."
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