The Government of Jammu and Kashmir has established a Union Territory Level Insurance Committee (UTLIC) to oversee the implementation of the UT Insurance Plan. This committee aims to increase insurance awareness and penetration throughout the Union Territory. The decision was formalized through a government order 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 comprise top officials from various departments, including Social Welfare, Industries and Commerce, Tourism, and Rural Development and Panchayati Raj.
Other members of the committee include representatives from the Reserve Bank of India, the Insurance Regulatory and Development Authority of India (IRDAI), and officials from private insurance companies such as PNB MetLife and Bajaj Allianz General Insurance. The committee’s primary objectives are to develop and implement an annual insurance plan, promote affordable life and general insurance products, and improve awareness about insurance services among the general public. The UTLIC will also ensure wider coverage in all districts and oversee the distribution of insurance targets among participating companies.
The committee is expected to meet quarterly 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, particularly in rural and underinsured areas. By promoting insurance awareness and penetration, the government aims to provide financial security to its citizens and reduce their vulnerability to risks. The establishment of the UTLIC is a positive step towards achieving this goal, and its implementation is expected to have a significant impact on the lives of people in Jammu and Kashmir.
The UTLIC’s focus on promoting affordable insurance products and improving awareness about insurance services is crucial, as many people in Jammu and Kashmir lack access to insurance services. The committee’s efforts to ensure wider coverage in all districts will also help to address the issue of underinsurance in rural areas. Overall, the establishment of the UTLIC is a significant development in the Union Territory’s efforts to improve financial security and social protection for its citizens.