Singareni’s accident insurance scheme becomes role model across India
This accident insurance scheme implemented in Singareni has now been adopted by states such as Assam, Uttar Pradesh, and even by Coal India Limited.
Hyderabad: Chairman and Managing Director, SCCL, N. Balram informed that the Singareni’s accident insurance scheme has become a role model for the entire country.
As part of employee welfare initiatives and in accordance with the directions of the state government, SCCL has implemented a Rs 1 crore accident insurance scheme, which has now become a model for the entire country.
He made these remarks through video conference while presenting a Rs. 1 crore accident insurance cheque to Haridevi Vishwakarma, wife of Mool Chand Vishwakarma.
An EP operator from Manuguru, Chand Vishwakarma recently, died in an accident. The cheque was handed over at the Kothagudem Head Office on Friday.
Speaking on the occasion, CMD noted that Chand Vishwakarma had a corporate salary account with State Bank of India, making him eligible for the Rs. 1 crore insurance benefit.
Informing that Singareni was the first government organisation in the country to partner with banks and implement an accident insurance scheme with coverage of up to Rs. 1.25 crore, he said that it provides strong financial support to families of employees who lose their lives in accidents.
This accident insurance scheme implemented in Singareni has now been adopted by states such as Assam, Uttar Pradesh, and even by Coal India Limited.
The revolutionary initiative in the insurance sector, he added, was made possible due to the proactive efforts of the state government and the forward-thinking leadership of Singareni.
Balram emphasized that while the organization always wishes for its employees to lead happy and healthy lives, unexpected accidents can financially devastate a family.
To address this, Singareni has arranged accident insurance coverage for all employees holding salary accounts in collaboration with banks.
Additionally, he mentioned that a similar accident insurance coverage of up to Rs 40 lakhs was also being provided to contract workers.
