Financial Daily from THE HINDU group of publications
Friday, Sep 17, 2004
Financial Daily from THE HINDU group of publications Friday, Sep 17, 2004 |
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Corporate
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Society & Development Finolex to offer insurance cover for electricians Our Bureau
Mumbai , Sept. 16 FINOLEX Cables Ltd proposes to offer insurance cover to over 2,500 electricians, as part of its corporate social responsibility. The company has tied up with Bajaj Allianz General Insurance Company for a group insurance scheme for electricians. The company would underwrite the premium on the scheme that provides personal accident insurance cover to "eligible" electricians certified by it, said a release. In fact, the company has been running a scheme for electricians under which it has introduced Finolex Electro Club. Each member of the Electro Club gets personal accident insurance cover ranging from Rs 25,000 to Rs 1,00,000. The company is now expanding the scheme. According to Mr Deepak Chhabria, Managing Director, FCL, besides giving insurances cover, the company has been organising regular training programmes for electricians who are considered partners in the company's business. Mr Kamlesh Goyal, CEO, Bajaj Allianz said, accident insurance for electricians is a necessity for the risks they are prone to but the premium would have been higher if taken individually. In the current deal, the club members would represent a homogeneous group, whereby, premium is lower with higher benefits besides the initial exercise of filtering the credentials is taken care of by Finolex Cables. There have been two unfortunate cases of accidental deaths of electricians in the last couple of months and legal heirs of these members are being awarded the claim, said a release.
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