Risk Management awareness is growing at a rapid pace in India and overseas also. Covid 19 has accelerated the pace of adoption in companies at various levels. Top Management and the Boards are also becoming more aware to implement Risk Management strategy as a part of Corporate Governance. Off late regulators have also recognized the need of CRO in companies and issued mandates in this regard.
Risk Management Association of India {RMAI) promoted by ‘The Insurance Times’ group is actively engaged in promoting risk management culture in India through regular webinars, training initiatives and awareness programmes. The 30 hours course launched by RMAI has also received good response from various industries including the insurance sector. More people are invited to join the association and promote the cause of Risk Management.
West Bengal Govt. has introduced a health scheme with 5 lac cover for the app. 10 crores people in the State. This scheme has been launched in lieu of Central Govts. Health scheme ‘Ayushman Bharat’ all over the country.
Automobile Sales have recovered since October, 2020 which will boost the Insurance sector also as Motor Insurance is one of the leading segments in terms of business. Covid 19 had severely impacted the motor insurance business.
The Insurance Industry is now recovering fast with the impact of Covid 19. Since the vaccine may be launched any time now,hopefully the industry will recover soon.
