Page 33 - The Insurance Times September 2024

A glance at the Old-age dependency ratio in India in 2011, With the feminisation of Indian elderly and fast changing
by gender and region of origin reveals that in 2011, the old socio-economic circumstances, there is an urgent need of
age dependency ratio for females living in rural areas in India old age financial security for Indian women.
was 15.8 percent as compared to men at 14.5% and in
urban areas it was 13.1 percent for females as compared Restricted mobility due to disability or
to men at 11.8% Thus in both rural and urban areas, the impairment or Lack of care
dependency ratio for females was higher than for males. Most of the elderly women in India have restricted mobility
Further, the old age dependency ratio in India is seeing a
due to ill health or due to lack of support. Disability in old age
gradual rise since the past few years.
restricts the elderly in performing their activities of daily living
(ADL) like feeding, bathing, dressing, toileting, walking etc..
Projections reflect a steep rise in old age dependency from Higher incidence of impairments (179 per1000) is reported
2021 to 2031. This ratio among elderly individuals is on the
in women over 80 years of age as compared to men in the
rise. The ratio climbed from 10.9 in 1961 to 14.2 in 2011
same age bracket (119 per 1000) (as per the LASI survey)
and 15.7 in 2021(Projected) and is expected to reach 20.1 Besides physical impairment ,visual and speech impairments
in 2031. Female and male dependency ratios are anticipated
are also common in old age. There is a need of assisted living
to increase to 21.5 and 18.8, respectively, by 2031.
and assisting care devices when the functional abilities decline
even to perform the ADL. Due to financial constraints they
Old age dependency ratio by sex and residence, cannot afford assisted living devices, could not access
India, 2011 healthcare and even lack proper nutritional diet. Many elderly
women thus remain confined to bed with no proper care by
Old age dependency Male Female Total
ratio the family members. They usually remain dependent on male
members of the family for their basic needs, even for day-to-
Rural 14.5 15.8 15.1
day requirements but as many of them outlive their husbands
Urban 11.8 13.1 12.4 their situation worsens in old age.
Total 13.6 14.9 14.2

The Critical Role of Professional Water Damage Restoration in
Minimizing Losses

I n the wake of natural disasters or unforeseen water- accelerates the recovery process, allowing businesses to
related incidents, the immediate and effective
resume operations swiftly.
response to water damage is paramount. For
For insurance professionals, the involvement of skilled
insurance surveyors and loss assessors, understanding
restoration specialists is essential in reducing the scope of
the intricacies of water damage restoration is crucial in
loss. By addressing water damage promptly and effectively,
evaluating claims and mitigating long-term financial impacts these experts help minimize reconstruction costs and
for both insurers and policyholders.
decrease the likelihood of inflated claims. Furthermore, they
Water damage, whether caused by floods, burst pipes, or provide comprehensive documentation of the damage and
firefighting efforts, can lead to extensive and often hidden restoration efforts, offering clear and reliable data to
destruction. The longer the water is allowed to remain, the support claim evaluations.
more severe the damage becomes, increasing the risk of Simply put, collaboration with experienced water damage
mould growth, structural deterioration, and loss of valuable
restoration companies is invaluable for the insurance
assets. This is where professional water damage restoration
industry. It ensures that damages are accurately assessed,
services play a pivotal role.
losses are minimized, and policyholders receive timely and
Companies like TDS Asia leverage advanced technologies fair settlements. As the frequency of water-related disasters
such as desiccant dehumidifiers and high-velocity air blowers increases, the demand for proficient restoration services will
to ensure rapid and thorough drying of affected areas. Their continue to grow, underscoring their importance in the
approach not only prevents secondary damage but also insurance sector.

30 September 2024 The Insurance Times