J&K Govt constitutes UT-Level Insurance Committee to enhance coverage

Srinagar, July 9: The Government of Jammu and Kashmir has constituted a Union Territory Level Insurance Committee (UTLIC) to monitor and supervise the implementation of the UT Insurance Plan, aiming to enhance insurance awareness and penetration across the Union Territory.

The decision was formalized through Government Order No. 872-JK(GAD) of 2025, issued by the General Administration Department on July 9, 2025.

The committee will be headed by the Administrative Secretary of the Finance Department and will include top officials from the Social Welfare, Industries and Commerce, Tourism, and Rural Development and Panchayati Raj departments. Other members of the committee include the Regional Director of the Reserve Bank of India, a representative from the Insurance Regulatory and Development Authority of India (IRDAI), and officials from PNB MetLife, Bajaj Allianz General Insurance, and the UT-Level Bankers' Committee.

As per the order, the committee will be responsible for developing and implementing an annual insurance plan, focused on promoting affordable life and general insurance products. It will also work to improve awareness about insurance services among the general public and ensure wider coverage in all districts. The UTLIC will oversee the distribution of insurance targets among participating companies based on their operational capacities. The committee is expected to meet once every quarter to assess and review the performance of insurance providers operating within the Union Territory.

The government believes that this initiative will significantly contribute to improving financial security and social protection for people across Jammu and Kashmir, especially in rural and underinsured areas.