Singareni gives Rs 1 crore insurance cover to employees
Kothagudem: As part of employee welfare initiatives and in accordance with the directions of the State government, Singareni Collieries Company Limited (SCCL) has implemented Rs 1 crore accident insurance scheme, which has now become a model for the entire country, stated SCCL Chairman and Managing Director N Balram here on Friday.
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, who recently passed away in an accident. The cheque was handed over the victim's family at the Kothagudem head office on Friday.
CMD Balram noted that the late Mool Chand Vishwakarma had a corporate salary account with State Bank of India, making him eligible for the Rs 1 crore insurance benefit.
He explained that Singareni is 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—a move that provides strong financial support to families of employees who lose their lives in accidents.
He further mentioned that this accident insurance scheme being implemented in Singareni has now been adopted by States such as Assam, Uttar Pradesh, and even 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.
The CMD emphasised that while the organisation 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 is also being provided to contract workers.
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