Financial Daily from THE HINDU group of publications
Wednesday, Jun 29, 2005
Financial Daily from THE HINDU group of publications Wednesday, Jun 29, 2005 |
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Money & Banking
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General Insurance Agri-Biz & Commodities - Aquaculture New India moots proposal for TN fishermen L.N. Revathy
Coimbatore , June 28 NEW India Assurance Co Ltd has mooted a proposal to the Tamil Nadu Government for providing `Group Insurance Cover' for the fishermen in the State. Disclosing this to Business Line, the Regional Manager, Mr V. Dhanaraj, said the company has initiated the proposal and was in talks with the Government. "The proposal is expected to be cleared soon," he said. Stating that such covers were felt necessary particularly after tsunami, Mr Dhanaraj said that the proposed policy would be annual for an assured sum of Rs 1 lakh. The individual would have to pay an annual premium of Rs 25. The Directorate of Fisheries has estimated the total number of fishermen in the State at 4.83 lakh. According to Mr Dhanaraj, more than 90 per cent of these people did not have a life cover and convincing them about the need for taking a risk cover was no easy task. The company, he said, was already providing risk cover under a group scheme for coolies, rickshaw pullers, taxi drivers, autorickshaw drivers, workmen in the unorganised sector etc. The Coimbatore region of New India comprising 18 divisional offices had managed a premium income of Rs 148 crore last fiscal and is targeting Rs 172 crore in the current fiscal. "We are targeting a 16 per cent growth rate this year vis-à-vis 9.78 per cent last year. We are confident of achieving the target," he added.
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