I asked Grok :
“Thanks
for all this help . To change the subject , read this innovative type of
insurance >
https://www.industriall-union.org/sewa-india-provides-members-with-heat-wave-insurance
Now , heat ( very high temparature ) is
just one kind of " Nature's Fury " which results into poor health of
persons affected and/or into their inability to go out to work and earn their
daily wages. Other similar situations are :
( A ) Air Pollution - AQI
( B ) Floods from rivers
( C ) Tsunami
( D ) Earthquakes
( E ) Hurricanes etc .
Can you come up with a brief statement of
Insurance Schemes , similar to " heat wave insurance scheme " of SEWA
, for each of the above mentioned situations, listing type of persons to be
covered , insurance premium , payment triggers etc “
Grok
replied :
Thank you for sharing the innovative heat
wave insurance scheme by SEWA, bhai!
It’s a fantastic model for addressing the
economic and health impacts of extreme weather on vulnerable workers.
You’ve asked for brief statements outlining
insurance schemes similar to SEWA’s heat wave insurance for other natural
disasters—(A) Air Pollution (AQI), (B) Floods, (C) Tsunami, (D) Earthquakes,
and (E) Hurricanes.
Each scheme will target informal sector
workers in India, particularly women, inspired by SEWA’s approach, and will use
parametric insurance for rapid payouts.
Below, I’ve outlined five parametric
insurance schemes, each specifying the type of persons covered, premium,
payment triggers, and key features, tailored to the Indian context and informed
by the SEWA model.
1. Air Pollution (AQI)
Income Insurance
- Description: A parametric insurance
scheme to compensate informal workers for income loss and health impacts
due to severe air pollution, particularly in urban areas with high Air
Quality Index (AQI) levels.
- Persons Covered: Informal sector workers
(e.g., street vendors, waste pickers, construction workers, home-based
artisans) in urban areas like Delhi NCR, Mumbai, and Kolkata, with a focus
on women workers.
- Insurance Premium: INR 300 ($3.60)
annually per person, subsidized by NGOs or government schemes, with SEWA
or similar unions as group policyholders.
- Payment Triggers: Payout of INR 300
($3.60) per day when AQI exceeds 400 (severe) for 2 consecutive days, as
measured by Central Pollution Control Board (CPCB) stations. Multiple pay-outs
possible during pollution season (Oct–Jan), up to a maximum of INR 3,600
($43) per season.
- Key
Features: Funds can be used for masks, medical
expenses, or income replacement. Pay-outs are transferred to bank accounts
within 3 days, verified by satellite and ground AQI data. Partners: Climate Resilience for All, ICICI Lombard.
2. Flood Income Insurance
- Description: A parametric insurance
scheme to support informal workers affected by riverine floods,
compensating for lost wages and enabling recovery from flood-related
disruptions.
- Persons Covered: Informal workers (e.g.,
farmers, fishers, street vendors, daily wage laborers) in flood-prone
regions like Assam, Bihar, and Uttar Pradesh, prioritizing women in
SEWA-affiliated trades.
- Insurance Premium: INR 400 ($4.80)
annually, partially funded by State Disaster Response Funds or
philanthropy, managed by local cooperatives.
- Payment Triggers: Payout of INR 500 ($6)
per day when river water levels exceed a predefined flood threshold (e.g.,
1 meter above danger level) for 2 consecutive days, as monitored by the
Central Water Commission. Maximum payout of INR 5,000 ($60) per flood
season.
- Key Features: Payouts support
relocation, food, or health costs. Disbursed within 5 days using real-time
hydrological data. Partners: Blue Marble, local NGOs.
3. Tsunami Income Insurance
- Description: A parametric insurance
scheme to protect coastal informal workers from income loss and health
risks due to tsunamis, a rare but devastating event.
- Persons Covered: Informal workers (e.g.,
fishers, salt pan workers, coastal vendors) in tsunami-prone areas like
Tamil Nadu, Andhra Pradesh, and Andaman & Nicobar Islands, with
emphasis on women in SEWA networks.
- Insurance Premium: INR 250 ($3) annually,
subsidized by coastal development funds, with community-based organizations
as policyholders.
- Payment Triggers: Payout of INR 1,000
($12) per event when a tsunami warning is issued by the Indian National
Centre for Ocean Information Services (INCOIS) and wave heights exceed 2
meters. Single payout per event, capped at INR 2,000 ($24) per year.
- Key Features: Funds aid evacuation,
medical care, or equipment repair. Payouts are disbursed within 2 days
post-event. Partners: Arsht-Rock, local insurers.
4. Earthquake Income
Insurance
- Description: A parametric insurance
scheme to compensate informal workers for income loss and recovery costs
following earthquakes in high-risk zones.
- Persons Covered: Informal workers (e.g.,
construction workers, home-based artisans, vendors) in seismic zones I and
II (e.g., Gujarat, Himachal Pradesh, Northeast India), focusing on women
in informal trades.
- Insurance Premium: INR 350 ($4.20)
annually, co-funded by National Disaster Response Fund and philanthropy,
with trade unions as group policyholders.
- Payment Triggers: Payout of INR 800
($9.60) per event when an earthquake of magnitude 5.5 or higher occurs, as
recorded by the India Meteorological Department (IMD). Maximum payout of
INR 2,400 ($29) per year for multiple events.
- Key Features: Funds cover temporary
shelter, medical expenses, or income loss. Payouts are processed within 4
days using seismic data. Partners: SwissRe, SEWA.
5. Hurricane (Cyclone)
Income Insurance
- Description: A parametric insurance
scheme to support informal workers affected by cyclones, compensating for
lost income and enabling rapid recovery.
- Persons Covered: Informal workers (e.g.,
farmers, fishers, construction workers) in cyclone-prone states like
Odisha, West Bengal, and Gujarat, with a focus on women in informal
sectors.
- Insurance Premium: INR 400 ($4.80)
annually, subsidized by state governments or international aid, managed by
local unions like SEWA.
- Payment Triggers: Payout of INR 600
($7.20) per day when wind speeds exceed 89 km/h (cyclone category) for 1
day, as reported by IMD. Maximum payout of INR 4,800 ($58) per cyclone
season.
- Key Features: Payouts support
evacuation, food, or rebuilding costs. Disbursed within 3 days using
meteorological data. Partners: Climate Resilience for All, HDFC ERGO.
Notes:
- Rationale:
These schemes are modeled on SEWA’s heat wave insurance, using parametric
triggers for quick pay outs, bypassing lengthy claims
processes. They target informal workers, especially women, who lack
social security and face disproportionate climate impacts.
Premiums and Payouts:
Premiums are kept low (INR 250–400) and subsidized to ensure accessibility,
with payouts (INR 300–1,000) designed to cover daily income loss or health
costs, based on SEWA’s $3/day model.
Triggers:
Triggers use objective, verifiable data (e.g., AQI, river levels, seismic
magnitude) to ensure transparency and speed, learning from SEWA’s adjustments
to temperature thresholds.
Partners:
Collaborations with NGOs, insurers, and government bodies mirror SEWA’s partnerships with Arsht-Rock and Blue
Marble, ensuring scalability and funding.
Dear Prime Minister :
A few years
ago , Govt had introduced “ PM : Crop Insurance Scheme “ under which farmers paid a
premium of Re 1 per day on their part while the rest was borne by the Govt
Just as
farmers need to be protected against famine ( lack of sufficient rains ) , above
suggestions need to be implemented to protect other vulnerable sections of our Society
With regards,
Hemen Parekh
www.IndiaAGI.ai / www.HemenParekh.in / www.My-Teacher.in / 11
May 2025
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