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Indian Railways may soon provide passengers with Insurance Cover

Indian Railways is in talks with 7 insurance companies to provide the passengers with insurance cover for train travel. Once the agreement is signed, passengers will be able to buy insurance cover by paying an additional premium while booking their tickets.

  • Minister of State for Railways Mr. Manoj Sinha revealed that the Railway Ministry will inform the Rajya Sabha after the final decision is taken. Earlier on 9th of February, Indian Railways held discussions with 7 public and private insurance companies regarding how they can provide insurance to passengers.
  • According to government statistics, 123 train accidents happened during 2012-2013, 118 in the year 2013-2014 and 135 accidents took place in 2014-2015. At the same time, at present 579 cases of compensation claims of victims of rail accidents are still pending. The compensation amount that the ministry has paid was also quite huge. For instance, during 2014-2015, around Rs. 127.48 lakh was paid as compensation.
  • If the decision is finalized, the passengers will have a sigh of relief as the insurance will facilitate passengers to claim compensation for rail accidents or lost baggage etc. without any further delay.

(Source: The Better India)

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