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insurance

Farmers face difficulty in
reaching private insurers
for grievance redress

um rate and the rate of Insurance charges payable by under the PMFBY,
farmers shall is treated as Rate of Normal Premium
Subsidy, which shall be shared equally by the Centre the government pays
and State Government. However, the governments
are free to extend additional subsidy over and above over 80% of the total
the stipulated subsidy from its budget.
Ropar-based activist Dinesh Chadha, who procured
the information under the RTI Act, says that “the Cen- premium amount.
tral government must make its position clear on the
scheme”. Data reveals that 80 per cent of profit earned Of this, the insurers
by private insurance companies went to companies
like the HDFC that topped with 1,816 crores profit, retained about 44%
followed by Reliance at 1,361 crores, Universal Sompo
General Insurance Company 1,195 crore, ICICI 1,193 and 23% in the last two
crore, Bajaj Allianz 815 crores, Bharti-AXA 302 crore,
Cholamandalam MS 182 crores, Future General India kharif seasons — a sum
Insurance Company 111 crore and Shriram General
Insurance Company 107 crores.
Little doubt the Modi government’s ambitious crop of 9,500 crore

Tehelka / 28 february 2019 15 www.Tehelka.com