Singareni sets national benchmark in implementation of Accident Insurance scheme
Balram made these remarks through video conference while presenting a Rs one crore accident insurance cheque to Ms Haridevi Vishwakarma, wife of Mool Chand Vishwakarma, an EP Operator from Manuguru, who recently passed away in an accident, by Director (Operations) L V Suryanarayana, Director (Projects, Planning & Personnel) K Venkateshwarlu, and SBI DGM Satyanarayana at an event held at the Kothagudem Head Office on Friday.
The CMD noted that the late Mool Chand had a corporate salary account with State Bank of India, making him eligible for the Rs one crore insurance benefits.
He explained that Singareni is the first government organization 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.
Unexpected accidents can financially devastate a family and to address this, Singareni has arranged accident insurance coverage for all employees holding salary accounts in collaboration with banks.
Additionally, he mentioned that similar accident insurance coverage of up to Rs 40 lakhs is also being provided to contract workers.
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