KSRTC signs agreements to provide individual ₹1 crore accident cover for employees
The Hindu
Bengaluru The Karnataka State Road Transport Corporation (KSRTC) has signed agreements with the Stat
The Karnataka State Road Transport Corporation (KSRTC) has signed agreements with the State Bank of India (SBI) and the United India Insurance to provide individual ₹1 crore accident insurance cover to its employees.
In a press release, the KSRTC stated that as per the agreement reached with SBI, ₹50 lakh insurance will be provided when the employee dies or is severely injured in accidents (both on duty and off duty accidents). This insurance cover has been provided without the payment of the premium amount by the employee.
On Monday, the KSRTC reached an agreement with United India Insurance to provide another ₹50 lakh accident insurance cover, which will cost an annual premium of ₹885. In the case of death, nominees will receive the insurance money. An employee will also get insurance of ₹50 lakh even when he or she gets severely injured in accidents.
The KSRTC claims that it is the first corporation in the country to provide accident cover of ₹1 crore.
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