The scheme will be executed by Edelweiss Insurance Brokers Ltd, Mumbai through New India Insurance Company, said TEA in a press release. The insurance company will take care of the medical expenses of the labourers and apart from this, an accident coverage of Rs 1,00,000 is also available to every insured labourer.

TEA has empanelled four insurance brokers, Edelweiss Brokers Ltd, Zeal Insurance, Om Maruthi Insurance and Indian Insurance Broking to analyse the existing general insurance policies, viz fire accident, flood, marine, stock and machinery breakdown taken by the TEA members. Based on the advice given by the concerned insurance brokers, the members of TEA can restructure their premium amount and coverage. It would help the units to rectify the issues and the template has been designed to suit Tirupur units. This would help to remove the deficiency occurred due to less knowledge on the insurance.

Raja M Shanmugham, president of TEA has appealed to the members of the association to utilise both schemes and get benefit out of it. (KD)

Fibre2Fashion News Desk – India