No initiative taken to observe national insurance day this year

Staff Correspondent: National Insurance Day is being observed on March 1 across the country. Since 2020, the day has been celebrated at the state level with colourful programmes aimed at promoting the development of the insurance sector and raising public awareness about insurance.

In previous years, the government organised countrywide events at the divisional, district and upazila levels to mark the occasion. The Insurance Development and Regulatory Authority (IDRA), along with public and private insurance companies, arranged rallies, discussions and awareness campaigns. The main national programme was usually held at the China Friendship International Conference Center in Dhaka. The Prime Minister would attend as the chief guest and formally inaugurate the nationwide observance.

However, no initiative has been taken this year to celebrate National Insurance Day.

The IDRA, the industry’s regulator, did not organise any programme. No public or private events have been arranged either.

Saifunnahar Sumi, Adviser (Media and Communication) and spokesperson of IDRA, said that no instructions were received this year from the Financial Institutions Division (FID) of the Ministry of Finance. As a result, IDRA did not take any steps to observe the day.

National Insurance Day was initially approved as a ‘Category B’ day. During the celebration on March 1, 2021, a demand was raised to upgrade it to a ‘Category A’ national day.

Later, on January 2, 2022, IDRA formally applied for upgrading the day to ‘Category A’. On September 27, 2022, a meeting of the Cabinet Division decided to include National Insurance Day in the ‘Category A’ list. The proposal was approved at a regular Cabinet meeting on October 10, 2022.

On October 13, 2023, the Cabinet Division issued a circular directing all relevant ministries, divisions and agencies to observe the day accordingly. At the same time, an earlier circular dated January 15, 2020, regarding Insurance Day was canceled.

In previous years, the management selected specific themes for the day and organised extensive programmes. Insurance company branch offices across the country decorated their premises with banners and festoons. Rallies and discussion meetings were also held at district and upazila levels to increase awareness among the public.