Kothagudem: Singareni Collieries Company Limited (SCCL) has introduced a Rs 1 crore accident insurance plan for its employees, following the State government’s guidance. This scheme has set a new standard in the country, according to SCCL Chairman and Managing Director, N Balram.
During a video conference, Balram presented a Rs 1 crore insurance cheque to Haridevi Vishwakarma, the widow of Mool Chand Vishwakarma, an EP operator from Manuguru who recently died in an accident. The cheque was given to the family at the Kothagudem head office.
Balram pointed out that Mool Chand Vishwakarma’s corporate salary account with State Bank of India made him eligible for this insurance benefit.
Singareni is the first government organization in India to work with banks and offer accident insurance coverage up to Rs 1.25 crore. This initiative provides significant financial help to families of employees who lose their lives in accidents.
The accident insurance scheme at Singareni has inspired other states like Assam, Uttar Pradesh, and even Coal India Limited to adopt similar programs. Balram credited the State government’s proactive steps and Singareni’s leadership for this groundbreaking initiative in the insurance field.
Balram stressed the company’s hope for employees to live happy, healthy lives but acknowledged that accidents can cause financial strain. To mitigate this, Singareni offers accident insurance to all employees with salary accounts, in partnership with banks. Additionally, contract workers receive similar coverage up to Rs 40 lakhs.
