Irdai panel recommends forming Rs 75,000 cr pandemic pool under PPP model

The group has recommended coverage for 40-50 million MSME workers initially

The country’s largest reins­urer, General Insurance Corpo­ration (GIC Re), which has managed the terrorism pool and the nuclear pool will be an appropriate administrator of the pandemic pool, according to the working group

The committee formed by the Insurance Regulatory and Development Authority of India (Irdai) to examine the requirement and rationale for setting up a pandemic pool has recommended the formation of an Indian Pandemic Risk Pool, with public-private-government participation. It has reasoned that this should be done as the quantum of loss because of the pandemic is huge and is beyond the capacity of public or private companies or government alone. While Covid-19 has caused devastation across all sectors and sections of society, the committee, based on feedback, felt low income ...