SRINAGAR: Fear, it seems, can be encashed. Just ask the insurance companies, which are doing brisk business in Jammu and Kashmir. True, militancy is on the wane, but will good times last? That question is compelling people to seek cover for themselves and their livelihoods. And the insurance companies are cashing in.
Economists though see another reason for growing insurance sector, namely the rise in incomes. "Some sectors like real estate have boomed," says says Prof Nisar Ali, head of the department of Economics, University of Kashmir. "This has also contributed to the growing insurance sector as more and more people not only insure their lives but also property."