India’s landscape is rich with vast terrains, ranging from snow-capped mountains to golden sandy beaches. With its land-use statistics varying substantially between regions, India still has significantly high biodiversity and biodiversity conservation.
Restriction on the construction and other developmental activities such as roads and dams, limiting agriculture to valleys and areas with moderate slopes, and control on the development of large settlements in the high vulnerability zones, should be enforced.
This should be supplemented by some positive actions like promoting large-scale afforestation programmes and construction of bunds to reduce the flow of water.
In general, mitigation means to minimize degree of any loss or harm. In insurance contracts, various clauses and conditions are specified so as to ensure minimum losses to the insurer.
The actuaries are entrusted with the responsibility of underwriting the insurance policy. They employ a variety of quantitative techniques in order to assess the risk associated with the insured and decide the appropriate premiums commensurate with the risk. The primary objective of the exercise is to mitigate the risk ingrained with the insured.
