Webinar on “Gratuity Insurance – Implications of Gratuity Act for Directors/ Top Management”

Registration can be done online at https://forms.gle/5pVThXy1uPCsUe8N9

Why the need for Webinar on “Gratuity Insurance Implications of Gratuity Act for Directors/ Top Management”?

Employee Benefits given to the employees comprise of:

  • Group Health
  • Group Personal Accident
  • Group Term
  • Gratuity
  • EDLI- Super annuation leave encashment

Gratuity is an important part of social benefit structure of our country. The details of this important Act (The Payment of Gratuity Act, 1972) will be covered in this Webinar on “Gratuity Insurance- Implications of Gratuity Act for Directors/ Top Management”

In this Webinar points to be covered are:

  • The Act
  • Implications- when it becomes applicable to your corporate
  • Violation and how it impacts Directors/ Independent Directors
  • Accounting Treatment
  • Tax Implications
  • Gratuity strategy for corporates
  • Role & Responsibility of Trustees of Gratuity Trust

In this important timely webinar we will discuss the following questions:

What are the main points of Gratuity Act? What are the responsibilities of Directors/ Independent Directors?

Calculation of gratuity liability in the company comparison of Creation of Gratuity Fund in the company vs creation of Trust.

Different options for providing gratuity with pros and cons.

Why it is beneficial to go in for creation of Gratuity Trust and that too with a Life Insurance Company?

Violation of Gratuity Act, Liability of Directors- Is it covered under the D&O Policy?

Benefits to attend the webinar:

  • Understand the details of Gratuity Act.
  • Hear the viewpoint of various stakeholders
  • Thought-provoking discussions on the key issues being faced by stakeholders.
  • Will help you in managing your Gratuity Liability in the years to come.
  • Get clarification for your questions.

The webinar will be beneficial for the following:

  • MSME’s/ Exporters
  • Industry Stakeholders- Insurers; Insurance Intermediaries like Broker Firms, Banks and Customers/Clients
  • Professionals/ Actuaries/ Lawyers
  • Academia & Tax Consultants
  • Industrialists
  • Business men
  • Chartered Accountants/ Accountants

Delegate Fee:

No fee but pre-registration is requested.

Webinar on Trade Credit Insurance & ECGC Insurance

Registration can be done online at https://forms.gle/PPGDRodpWHVWZ85W7

Why the need for Webinar on “Trade Credit Insurance & ECGC Insurance”?

Sudden stopping of operations by Kingfisher, Jet Airways or Go First resulted in losses to large number of MSME’s, who were provider of products or services to these airlines. There are hundreds of examples from various industries before us.

Non-receipt of payment results in sickness of MSMEs, and then turning into NPAs for the loans granted by Banking Institutions.

This webinar is an attempt of PHD Chamber of Commerce & Industry & Insurance Foundation of India to bring to you the details of Trade Credit Insurance and ECGC Insurance.

In this important timely webinar we will discuss the following aspects:

  1. Importance of Trade Credit Insurance.
  • What it covers?
  • What is does not cover?
  1. Claims settlement process in the event of default by customers.
  2. Importance of ECG Insurance
  • What it covers?
  • What is does not cover?
  1. Claims settlement process in the event of default duly supported with case studies.
  2. Salient Points of Project Exports.

Benefits to attend the webinar:

  • Understand the details of these insurance products.
  • Hear the viewpoint of various stakeholders
  • Thought-provoking discussions on the key issues being faced by Industry.
  • Will help you in managing your credit risks in the years to come.
  • Get clarification for your questions, if any.

The webinar will be beneficial for the following:

  • MSME’s/ Exporters
  • Industry Stakeholders -Insurers; Insurance Intermediaries like Broker Firms, Corporate Agents, POS, CSC, Agents, Banks and Customers/Clients
  • Professionals
  • Academia & Consultants
  • Industrialists
  • Business men
  • Chartered Accountants/ Accountants
  • Agents/Corporate Agents/Insurance Brokerage Firms

Delegate Fee:

No fee but pre-registration is requested.

About The Organizers

Insurance Foundation of India (IFI)

Insurance Foundation of India (IFI) is set up under Trust Registration Act 1882 of Government of India as a Not-for-Profit Organization.

It is engaged in conducting:

  • Training Programmes
  • Seminars
  • Webinars
  • Conferences
  • Workshops

PHD Chamber of Commerce & Industry

PHD Chamber of Commerce and Industry, established in 1905, is a proactive National Apex Chamber working at the grass-root level and with strong national and international linkages. The Chamber acts as a catalyst in the promotion of industry, trade and entrepreneurship. PHD Chamber, through its research-based policy advocacy role, positively impacts the economic growth and development of the nation. PHD Chamber is more than an organization of the business community, as it lives by the chosen motto In Community Life & Part of It and contributes significantly to socio-economic development and capacity building in several fields.

‘’PHD Chamber of Commerce and Industry (PHDCCI) is one of the Premier Chambers in India to have been accredited with “Diamond Grade” by NABET(QCI), at national and international level.

PHDCCI is a National Apex Chamber having its international office at Bahrain for 6 GCC countries, with 1, 30,000 companies as its members base, as total focus on the development of small and medium businesses. PHDCCI has co-opted National and International Industry Associations and Organizations through over 100 MoUs signed between the parties.’’

Webinar on “Implications of Taxation in General Insurance Industry”

Registration can be done online at https://forms.gle/LfBMH8Co4QymqDXJ7

Why the need for Webinar on “Implications of Taxation in General Insurance Industry”?

GST was introduced in 2017 and GST Collection has been increasing year by year.

In the recent months we have come across many news items on GST Collection, Violation, Cancellation of GST numbers and strict procedure to be followed for issue of new GST registration.

PHD Chamber of Commerce in association with Deloitte & Insurance Foundation of India has decided to organize this webinar on “Implications of Taxation in General Insurance Industry”

In this important timely webinar we will discuss the following aspects:

  • Why we decided for this Webinar?
  • Importance of GST in General Insurance Industry
  • Comments on Taxation on General Insurance Industry in India vis a vis other countries
  • GST Implications -while underwriting the General Insurance business-Property, Marine, Vehicle, Employees Insurance
  • GST Implications on settlement of Claims- Property, Marine, Vehicle,
  • Input Tax credit -at the time of underwriting and settlement of claim -Property -Marine-Vehicle
  • Implication of GST -under Reinsurance
  • Interpretation of GST for payments of Remuneration/ Rewards /Gifts to Insurance Agents/Insurance Intermediaries
  • Investigations under GST and How to Handle GST Raids
  • GST on Insurance/ Reinsurance- SEZ Gift City
  • Avoid violation of GST Rules and escape penalties/ litigation

Benefits to attend the webinar:

  • Understand the taxation aspects pertaining to services Industry and that too far General Insurance Industry.
  • Hear the viewpoint of various stakeholders
  • Thought-provoking discussions on the key issues being faced by Industry.
  • Will help you in managing taxation accounting for the years to come.
  • Get clarification for your questions, if any.

The webinar will be beneficial for the following:

  • Taxation Heads of Industry Stakeholders -Insurers; Insurance Intermediaries like Broker Firms, Corporate Agents, Agents, Banks and Customers/Clients
  • General Insurance Council and its Members
  • Insurance Brokers Association of India and its members
  • Lawyers &Professionals especially those who are handling GST aspects in industry.
  • Academia & Consultants

Delegate Fee:

No fee but pre-registration is requested.

About The Organizers

Insurance Foundation of India (IFI)

Insurance Foundation of India (IFI) is set up under Trust Registration Act 1882 of Government of India as a Not-for-Profit Organization.

It is engaged in conducting:

  • Training Programmes
  • Seminars
  • Webinars
  • Conferences
  • Workshops
  • Skill Development

PHD Chamber of Commerce & Industry

PHD Chamber of Commerce and Industry, established in 1905, is a proactive National Apex Chamber working at the grass-root level and with strong national and international linkages. The Chamber acts as a catalyst in the promotion of industry, trade and entrepreneurship. PHD Chamber, through its research-based policy advocacy role, positively impacts the economic growth and development of the nation. PHD Chamber is more than an organization of the business community, as it lives by the chosen motto In Community Life & Part of It and contributes significantly to socio-economic development and capacity building in several fields.

‘’PHD Chamber of Commerce and Industry (PHDCCI) is one of the Premier Chambers in India to have been accredited with “Diamond Grade” by NABET(QCI), at national and international level.

PHDCCI is a National Apex Chamber having its international office at Bahrain for 6 GCC countries, with 1, 30,000 companies as its members base, as total focus on the development of small and medium businesses. PHDCCI has co-opted National and International Industry Associations and Organizations through over 100 MoUs signed between the parties.’’

Webinar on “Bima Sugam – The Game Changer in 2023”

Why the need for Webinar on “Bima Sugam – The Game Changer in 2023”?

The Insurance Regulatory and Development Authority of India (IRDAI) has committed to enable ‘Insurance for All’ by 2047, where every citizen has an appropriate life, health and property insurance cover and every enterprise is supported by appropriate insurance solutions and also to make Indian insurance sector globally attractive.

To attain this objective, the reform agenda taken up by IRDAI derives inspiration from the Government of India’s vision of financial inclusion and strong emphasis on accelerating reforms. The focus of IRDAI is to strengthen the three pillars of the entire insurance ecosystem viz. insurance customers (policyholders), insurance providers (insurers) and insurance distributers (intermediaries) by

  • Making available right products to right customers;
  • Creating robust grievance redressal mechanism;
  • Facilitating ease of doing business in the insurance sector;
  • Ensuring the regulatory architecture is aligned with the market dynamics;
  • Boosting innovation, competition and distribution efficiencies while mainstreaming technology and moving towards principle based regulatory regime.

Benefits to attend the webinar:

  • Understand the dynamics of Insurance Industry, solutions, strategies and models.
  • Hear the viewpoint of other stakeholders
  • Thought-provoking discussions on the key issues in the Industry and opportunities of future.
  • Will help you in formulating your business strategy for years to come.
  • Get clarification from the questions, which you are having.
  • Understanding the various existing and future technological advancements and platforms, that will reshape the landscape of Insurance Industry.

The program will be beneficial for the following:

  • Policy-Makers & Regulators
  • Industry Stakeholders -Insurers; Insurance Intermediaries like Broker Firms, Corporate Agents, POS, CSC, Agents, Banks and Customers/Clients
  • Life Insurance Council and its members
  • General Insurance Council and its Members
  • Insurance Brokers Association of India and its members
  • Professionals
  • Academia & Consultants

Delegate Fee:

  • No fee but pre-registration is requested.

About The Organizers:

Insurance Foundation of India

Insurance Foundation of India (IFI) is set up under Trust Registration Act 1882 of Government of India as a Not-for-Profit Organization.

It is engaged in conducting:

  • Training Programmes
  • Seminars
  • Webinars
  • Conferences
  • Workshops
  • Skill Development

PHD Chamber of Commerce & Industry

PHD Chamber of Commerce and Industry, established in 1905, is a proactive National Apex Chamber working at the grass-root level and with strong national and international linkages. The Chamber acts as a catalyst in the promotion of industry, trade and entrepreneurship. PHD Chamber, through its research-based policy advocacy role, positively impacts the economic growth and development of the nation. PHD Chamber is more than an organization of the business community, as it lives by the chosen motto In Community Life & Part of It and contributes significantly to socio-economic development and capacity building in several fields.

‘’PHD Chamber of Commerce and Industry (PHDCCI) is one of the Premier Chambers in India to have been accredited with “Diamond Grade” by NABET(QCI), at national and international level.

PHDCCI is a National Apex Chamber having its international office at Bahrain for 6 GCC countries, with 1, 30,000 companies as its members base, as total focus on the development of small and medium businesses. PHDCCI has co-opted National and International Industry Associations and Organizations through over 100 MoUs signed between the parties.’’

Insurance Brokers Association of India

Insurance Brokers Association of India (IBAI) is an association of all registered Insurance Broker Firms in the Country. It is doing extremely good job in managing all aspects of the Insurance Brokers, which includes interaction with IRDA, Government authorities and Insurers.

It will be one of the investors in Bima Sugam equity.

Webinar on Challenges & Opportunities in implementation of IFRS in Insurance Sector in India

Registration can be done online at https://forms.gle/ivCdpU6SqPYxufYf6

Why the need for Webinar on “Challenges & Opportunities in implementation of IFRS read with Ind AS in Insurance Sector in India”?

IFRS (International Financial Reporting System) has been introduced in many developed countries. Indian Insurance Industry under the leadership of IRDAI, the regulator is getting ready for its implementation.

This webinar will bring clarity among various stake holders (Insurance companies, Reinsurance companies, Actuaries, Auditors, Investors, Shareholders or even say foreign investors, who wish to invest in Indian Insurance Companies). We are sure that this will have positive impact on the growth of our industry.

Topics to be covered:

  • View point of IRDAI on introduction of IFRS read with Ind AS
  • Viewpoint of the Insurance Industry
  • Viewpoint of Auditors
  • How this introduction will result in improvement of valuation of Insurance Companies ?
  • Impact on inflow of FDI at a higher rate ,increased penetration of Insurance in the country .

Who should attend?

This is a good opportunity for:

  1. CEO’s, CFO’s, Directors of Insurance Companies
  2. CEO’s, CFO’s, Directors of Reinsurance Companies
  3. Industrialists
  4. Auditors
  5. Chartered Accountants/ Accountants specializing in IFRS
  6. Actuaries
  7. Students of ICAI intending to make career in IFRS specialization
  8. Investment bankers handling M&A deals

Delegate Fee:

  • No fee but pre-registration is requested.

Webinar on Insurance Claims Management-Growing Need of MSME Sector

Why the need for Specialized Industry Focused Seminar on “Insurance Claims Management- -Growing Need of MSME Sector?”

In the last 20 years profile of Indian economy has changed. Today the Indian economy is one of the fastest growing in the world and the growth & success of MSME is critical for maintaining India’s growth story.

The Micro, Small and Medium Enterprises (MSME) are key contributors to the Indian economy both in terms of employment and industrial output. Many MSMEs tend to be entrepreneurial ventures where the promoter has either invested his/her savings or borrowed money to start a new venture.

Risk is inherent in our lives, but MSMEs are especially vulnerable to risks that threaten the dream venture that they have worked so hard to build. Naturally, with the stakes being so high, insurance is a prudent way to limit liabilities in the event of damage to assets, property and business. For MSMEs, it could be the key to survival. It is important for them to understand the importance of all aspects of lodging of insurance claims ,when the need arises .

Against this Backdrop, Insurance Foundation of India and PHD Chamber of Commerce & Industry are organizing “Insurance Claims Management-Growing Need  of  MSME Sector  on 15 February 2022.

Topics to be covered:

During this Seminar high level of clarity will be achieved by discussing the following:

  • Buy the Right insurance product not the cheapest Insurance product
  • Role of different stake holders -insurers, insurance brokerage firms, insurance surveyors and insurance claims consultants.
  • MSME’s need Fire, Burglary, Marine Cargo ,Group Health Insurance, Money in transit and safe, Fidelity Guarantee and Public Liability Insurance covers
  • Lodging of Claims and Settlement of Claims needs full support from your own team say accounts department .
  • Case Studies on how Insurance claims helped MSME’s to survive .
  • Questions & Answers

Who Should Attend the Webinar?

This is a good opportunity for:

  • Business development/ underwriting /claims team of insurance companies
  • Industrialists
  • Business men
  • Chartered Accountants/ Accountants
  • Insurance Managers/Officers/ of Corporates or MSME ‘s
  • Agents/Corporate Agents/Insurance Brokerage Firms

Delegate Fee:
No fee but pre-registration is requested.

Certificate:
Certificates will be issued to the participants on completion of this Webinar.

Webinar on Employee Benefits Insurance- Need, Myth, Reality & Strategy

Time has changed:

May be 40 years ago assets were considered to be valuable and insurance started with physical assets and ended with the same. Then India started emerging as the base for IT or we can say Knowledge industry. This resulted in importance being given to educated, trained manpower like software Professionals, Research Scientists, Professors and Doctors. For Organizations it became Important to retain your good people, attract good people and build Strong team. Employees benefit like cab pick-up, good cafeteria, office lunch supported with health insurance was introduced.

How this has affected all of us?

Your employees can be poached by another company by offering salary, may be at same level but withbetter or higher employee benefits like:
• Group Term Insurance
• Group Health Insurance
• Group Personal Accident Insurance
• Group Gratuity
• Group EDLI
• Keyman Insurance

In this webinar we intend to look at how these products have affected or may be benefited all of us and we will discuss Issues like:

• Need
• Myth
• Reality
• Strategy

Has Pandemic added a new dimension to this?

Yes MSME’s all over the country are–are badly affected by lockdown with reduced market size, lower earnings, reduced funds inflow, some key employees falling ill and nearly all of them are expecting advance /loan from employers for treatment. The worst affected MSME’s are the ones where some employee has expired and the family of the employee is asking for:

• Lump sum payment of salary equal to 2 years
• Education cost of children to be borne up to University level
• Job for widow or another family member

Assuming the employee was having CTC of Rs 5 lakhs per year we are talking of sum which in money terms is more than Rs 15 lakhs.

Social Media is full of such news and our information shows that this is emerging as a common norm now and you as an organization will have to bear this cost. Let us not forget that this is going to be an additional cost.

Can we say a Group Term Insurance Policy with company would have taken care this unfortunate event?

In this webinar we are discussing:

• Time to wake up and assess the risks being faced by any business especially with respect to human resources?
• Issues being faced by Corporates in deciding how risk mitigation can be done by buying insurance?
• How to decide about the sum assured required under Health, Term, PA policy.
• Keyman insurance is it a necessity for entrepreneur as well as key persons?
• Should employers take proactive role to provide insurance support to employees and families?
• Consolidation/ aggregation of the demand at Chambers Level/ Association level so that benefits of economies can be shared among organizations for the ultimate benefit to large number of employees

How to take care of requirement under:

• Statutory Liabilities
• Employees Liabilities (mix of statutory and morale related expectations – necessary to retain the employees)
• Keep the business competitive to survive in Covid affected world.

Issues being faced by employees (working in unorganized, organized sector):

• Employees are facing reduced earnings
• Covid treatment in hospitals/home needs lot of funds requirement -should this be borne by employer
• Noninsured persons are becoming dependent on their employer

Those having no support are depending on unsecured personal loans (at very higher interest rate) and are getting into serious debt trap. Employment of a person, who is in debt can be risky preposition for nay business

Present Scenario:

• Non-issue of Group Term Insurance Policies (even quotes not being given) for last few months
• Increase in Health Insurance premium
• Group corona Rakshak and Corona Kavach policies not being issued

Questions before MSME’s are:

• Employee Benefits are adding to your costs or in realty reducing the costs.
• How to decide sum assured?
• Is it worth investing in Group Gratuity Scheme?
• Group Term Insurance Policies – where to buy?
• Keyman Insurance – is it a good strategy to satisfy/ retain/ motivate top management of your company.
• Trade Credit Insurance -not a wish, it is a necessity.
• Policies taking care of statutory liabilities like Gratuity Act. Can save entrepreneur from prosecution when the days turn bad.
• Maintaining the morale of the employees in this difficult/ challenging time. Soon the economy will pick up. Let us be positive

Who should attend?

All those who are connected with top management and HR function in:

• MSME’s/ Chambers of Commerce/ NGO
• Insurance Companies
• Industry Associations/ RWA’s
• Insurers
• Consultants
• Media/ Press
• Small business owners/ traders
• NGO’s

Delegate Fee:

No fee but pre-registration is requested.

Webinar on Selecting the Right Insurance Policies during Covid Time

Online registration can be done at https://docs.google.com/forms/d/e/1FAIpQLSdpzs47T_c-rzyZsXXzeUSFgtX46dVB9-ONMoITcN6vlxvupQ/viewform

Selecting the Right Insurance Policy during Covid Time

This pandemic which started in a small way in March 2020 is getting extended and we are realizing is that it is becoming more and more complicated.

In early days those, who were in 60 years + age group were shown to be in high risk. As the time passed by and in May 2021, we find that in Wave 2 even persons in 30 years + age group without comorbidities are getting affected, are hospitalized and some of them are turning fatal.

Indications are that in near future children in 12+ age group may also get affected.

How this has affected all of us?

In this webinar we intend to look at how this has affected all of us:
• Individuals /Families – are now having lower earnings, many have exhausted savings, facing the financial and mental strain caused by hospitalization of some family members.

• MSME – All are affected by lock down with reduced market size, lower earnings, reduced funds inflow, some key employees falling ill and nearly all of them are expecting advance /loan from employers for treatment. The worst affected MSME’s are the ones where some employee has expired, and the family of the employee is asking for:
– Lump sum payment of salary equal to 2 years
-education cost of children to be borne up to University level
– Job for widow or another family member

• Assuming the employee was having CTC of Rs 5 lakhs per year we are talking of sum which in money terms is more than Rs 15 lakhs.

• Social Media is full of such news and our information shows that this is emerging as a common norm now and you as an organization will have to bear this cost. Let us not forget that this is going to be an additional cost.

• Senior Citizens -They are the worst affected with fear of them falling ill and may have to bear high and very high hospitalization bills. Depleting savings corpus and low health insurance coverage of Rs 2 lakhs is in front of them. Non availability of insurance, when they are 68 years or the higher

In this webinar we are discussing:

• Time to wake up and assess the risks being faced by any business?
• Issues being faced by Individuals /Corporates in deciding how risk mitigation can be done by buying insurance?
• How to decide about Property /Health Insurance/Life Insurance /Keyman insurance?
• Should employers take proactive role to provide insurance support to employees and families?
• Consolidation /aggregation of the demand at Chambers Level /Association level so that benefits of economies can be shared among organizations and employees

How to take care of requirement under:

• Statutory Liabilities
• Employees Liabilities (mix of statutory and morale related expectations -necessary to retain the employees)
• Keep the business competitive to survive in Covid affected world.

Issues being faced by employees (working in unorganized, organized sector):

• Everyone is facing reduced earnings
• Covid treatment in hospitals/ home needs lot of funds requirement
• Non insured persons are becoming dependent on their employer
• Those having no support are depending on unsecured personal loans (at very higher interest rate) and are getting into serious debt trap
• High deductions in reimbursement claims being settled
• High outright rejection rate for Corona Kawach Claims
• Non issues of policies to Covid Recovered individuals
• Non issue of Group Term Insurance Policies (ever quotes not being given) for last few months

Questions before MSME’s are:

• Who can guide them is Risk Assessment?
• How to do risk sharing by buying insurance Policies comprising of
• Property Insurance
• Stock Insurance
• Health Insurance
• Group Term Insurance Policies – where to buy?
• Key Man insurance
• Trade Credit Insurance
• Policies taking care of statutory liabilities like Gratuity Act
• Maintaining the morale of the employees in this difficult /challenging time.

Who should attend?

All those who are connected with:

• MSME’s / Chambers of Commerce /NGO
• Individuals policy holders /who are desirous of planning for payment of health care costs in case the need arises.
• Senior Citizens, an important segment of the Society
• Insurance Companies
• Industry Associations / RWA’s
• Insurers
• TPA’s
• Hospitals
• Consultants
• Media /Press
• Small business owners /traders
• NGO’s

Delegate Fee:

No fee but pre-registration is requested.

Webinar on Health Insurance need of MSME sector: open issues, way forward and role of IRDAI

Online registration can be done at https://docs.google.com/forms/d/e/1FAIpQLSc1WgQivMRXENDP0krmdsegoye9Z1pf6eWbYkvm5TW82YkT9A/viewform

Why the need for this webinar?

Everyone is aware of the havoc caused by pandemic since March 2020. May be this is the biggest tragedy or crisis of the century being faced by us as a country during the century which started in 1947.

It has affected the economy, industry and crores of citizens of the country. According to an estimate over 25 crore citizens have been pushed below the poverty line during the year and that too only due to this pandemic.

One of the biggest needs being felt by people from all walks of life is “Health Insurance” – whether it is for an individual, family or a group policy to be purchased by the corporate (MSME) in10 persons or thousands of persons are working.

We as Chamber of Commerce highly commend the timely steps taken by Insurance Regulatory and Development Authority of India (IRDAI) which are:

• Introduction of Covid Specific Insurance Policies introduced at a short notice by a large number of Life/Non-Life /Health Insurance Companies. These were short term and economically prized policies ,which were well received by large number of persons & MSME’s.
• Instruction to Insurers for quick approval for cash less hospitalization
• Discharge from hospital within a short time so that bed /room can be made available to new needy patient.
• Early settlement of claims so that hard pressed families are not to economic distress.

We highly appreciate the fact that even judiciary has issued many directions & judgments, which are in favor of the insured patients.

In this webinar we are discussing:

• Issues being faced by MSME in buying insurance
• Solutions which have been provided by (IRDAI), Governments of India, State Government
• Government Support – what more is required so that GDP does not get affected and no job losses occur ?
• Positive steps taken by IRDAI – our suggestions and whole hearted support

Issues being faced by MSME’s:

• Refusal for Cashless Hospitalization by Hospitals
• High deductions in reimbursement claims being settled
• High outright rejection rate for Corona Kawach Claims
• Non issues of policies to Covid Recovered individuals
• Non issue of Group Term Insurance Policies (ever quotes not being given) for last few months

Questions before MSME’s are:

• Desire to do risk sharing by buying Health Insurance & Group Term Insurance Policies – where to buy ?
• Maintaining the morale of the employees in this difficult /challenging time.
• What support MSME‘s can expect from Government? May be waiver of GST for a year on Health Insurance policies .
• How to face shortage of medicines, oxygen, beds? MSME’s are worried due to inflated prices being demanded .
• All Home care bills for Covid treatment (necessary due to non – availability of beds) should be paid under Health Insurance Policy?
• IRDA direction to Insurers to be reasonable in passing claim bills e.g. PPE Kit, Nursing Attendant Charges. Deduction of 55% from reimbursement claims is spreading negativity in the market/ country.

Who should attend?

All those who are connected with:

• MSME’s / Chambers Of Commerce
• Individuals policy holders /desirous of buying health Insurance
• Insurance Companies
• Industry Associations / RWA’s
• Insurers
• TPA’s
• Hospitals
• Consultants
• Media /Press
• Small business owners /traders

Delegate Fee:

No fee but pre-registration is requested.

Webinar on Livestock Insurance – Need of the Day

Why the need for Specialized Webinar on Livestock Insurance?

In association with PHD Chamber of Commerce & Industry, New India assurance Co. Ltd, National Insurance Academy & Bhilwara Zila Dugdh Utpadak Sahkari Sangh Limited, (Saras Dairy) Alwar. A very successful Seminar was held on 3rd Feb. 2020 in Lakshmipat Singhania Auditorium, PHD House, New Delhi.

A Knowledge paper prepared by National Insurance Academy on Livestock Insurance was released in this seminar.

Knowledge Paper Release during Seminar on “Livestock Insurance” at PHD Chamber, New Delhi

Over 300 participants owning Cattle, Poultry, Piggery, Bee Keeping, Insurance Brokerage Firm, Insurance Companies etc. had attended Seminar

In this follow up webinar Experts will be discussing the suggestions, which emerged in Knowledge Paper and discussions which were held in the Seminar in Feb. 2020. Latest update on the actions/ initiatives of the Government of India will also be discussed for the benefit of Farmers and all stake holders involved in Indian Insurance industry.

It is very important as in the last 7 months the country had a major economic  impact due to  Covid 19 Pandemic . It has affected the earnings of Crores of citizens but the good thing is that Dairy /milk production has not been affected.

The Background:

Under the leadership of Hon’ble Prime Minister Sh. Narendra Modi the initiative taken by the present Government is to double the farmer’s income in India by 2022. To achieve this multi-modal focus on all farming activities is proposed with special emphasis on Allied Agricultural activities such as veterinary etc.

As the growth of Crop/ Agriculture income has a limitation, therefore, thinking which has emerged is that farmers/ rural population should go in for more and more of:

  • Dairy Farming
  • Poultry Farming
  • Fishery
  • Rearing of Goat/ Sheep
  • Bee Farming
  • Silk Worm Production

In 2019, a separate Department of Animal Husbandry & Dairying was created in the Ministry of Fisheries, Animal Husbandry, and Dairying.

We intend to have this important seminar to discuss the importance of livestock Insurance which is a must for supporting our farmers/ families having livestock as a means for livelihood.

 Target audience will comprise of:

  • Officials of Ministry of Animal Husbandry (Govt. of India)
  • Officials of Ministry of Animal Husbandry (State Govt.)
  • Officials& Scientists of National Dairy Research Institute, Karnal
  • Banks/ NBFC/ Micro Finance Institutions providing  livestock  loans
  • Insurance companies issuing Livestock (cattle ) Insurance policies
  • Insurance Broking Firms selling livestock (cattle ) Insurance policies
  • Senior Management & Officials from Milk Producer Co-operative Societies Like: Amul, Saras, Vila, Vijaya etc.
  • Service Providers engaged in Tagging of animals
  • Surveyors
  • Technology Companies working towards taking Livestock Insurance to the next level, when India emerges as 5 Trillion US $ economy.

Points to be covered in the Webinar are:

  • Livestock Risk – Should Insurance be made mandatory?
  • Use of technology for claim settlement
  • Investment & improvement of Veterinary infrastructure is needed in a big way to support the farmers
  • What innovations are  needed in Insurance
  • What can we learn from other countries?

Why farmers need Livestock Insurance?

Importance of Livestock Insurance is increasing as more and more loans are being provided by Banks/ NBFC/ Micro Finance Companies for increasing the income of farmers, marginal farmers in all parts of the country. Insurance of Live Stock for the market value paid by the farmer is important to protect his family in the eventuality of the death of an animal.

Who should attend the Webinar (Target Participants)?

This is a good opportunity for management/ officials:

  • Corporates & Co-operative Societies engaged in Dairy Farming, Milk Collection & Milk Processing
  • Honey & Silk Producers
  • Banks/ NBFC’S & Micro Finance Companies lending to Farmers
  • Insurance Companies
  • Reinsurance Companies
  • Insurance Brokerage Firms
  • Policy Makers  at National and State level
  • Associations Representing Various Segments Connected with this growth of Animal Husbandry/ Food Processing/ upliftment of society
  • NGO’s working in the rural area promoting the growth of animal wealth of our farmers/ employment generation of those who are below BPL.

 What you can expect from the Webinar?

Realize the difficulties being faced by Farmer’s possible solutions/ understand the Government thought process and growth potential of this great sector.

Some key take away for various stake holders will be:

  • Understanding of the Needs of Farmers which will result in the growth of dairy farming, fisheries, poultry farming, bee farming & silkworm production
  • Important Issues in Livestock Insurance
  • Availability of credit supported with Insurance can result in growth of this industry
  • Role of Technology in the monitoring of Claims

Delegate Fee:

  • Individual Participation fee: Rs. 600
  • Individual Foreign Participant fee: US $ 20