The government along with the industry will prepare a road map for improving penetration of the general insurance in the country which is less than one per cent. Financial Services Secretary D K Mittal said in New Delhi on Monday, general insurance penetration rate is just 0.7 per cent. He was speaking to reporters after meeting of the representatives of the general insurance industry with Finance Minister P Chidambaram.

The basic agenda of today's meeting, he said, was to work out ways to increase penetration of non-life insurance and promote financial inclusion.

The government's decision to raise foreign investment in insurance companies from 26 to 49 per cent cannot be implemented without amendment to the Insurance Act. The amendment bill has been pending in Parliament since December 2008. Chidambaram had earlier in the month held similar exercise with the representatives of the life insurance industry with a view to boosting the sector. The premium underwritten by the general insurance sector during April-July 2012-13 rose by 18.69 per cent to 22,162 crore rupees as compared to the same period of last fiscal.