Railways' Rs1 Insurance Gets 89 Lakh Clients so far

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The Rs1 travel insurance started by the Indian Railway Catering and Tourism Corporation (IRCTC) from September 1 has as on Monday seen a total of 89 lakh passengers opting for it. IRCTC chairman AK Manocha told dna that by the end of the month, the figure should be over a crore. This comes to a little over 3,00,000 passengers per day, which is about 30 percent of all confirmed tickets booked on the IRCTC website. The insurance can only be availed by long-distance passengers booking and obtaining confirmed tickets on the IRCTC website.

The Rs1 scheme has a maximum cover of Rs10 lakh in case of death or permanent total disability, Rs7.5 lakhs for permanent partial disability, upto Rs2 lakh for hospital expenses rising out of a train accident and Rs10000 for the transportation of mortal remains of a person killed in a train accident or an untoward incident as defined by the Railways Act.

IRCTC officials, however, agreed that there is still some way to go for the scheme. "Every day, 5.74 lakh reserved tickets are booked on the IRCTC website, on which about 10 lakh passengers travel. The 89 lakh passengers, who have opted for the Rs1 insurance is very encouraging, but I believe every single passenger, who travels on a reserved ticket must get this insurance. After all, we can't get a better insurance scheme than the one we are offering," says Manocha.

The spread of the scheme is of course limited, agreed officials, because it is not available for suburban passengers, who form about 60 percent of all travellers on Indian Railways, and also for wait-listed passengers. "The ultimate aim for IRCTC would be to provide insurance to all 2.5 crore passengers on Indian Railways. And we have a situation where laptops, mobile phones and the likes are also covered against theft, so that the huge number of people using the suburban network are also brought under the cover of insurance," says Manocha.

Officials said the future of the insurance scheme would be to get passengers buying tickets from passenger reservation centres in its ambit. The scheme is being implemented by IRCTC in partnership with ICICI Lombard General Insurance, Royal Sundaram and Shriram General.

What the Rs1 insurance entails:
1) Rs10 lakh in the event of death or permanent total disability

2) Rs7.5 lakh for permanent partial disability

3) Up to Rs2 lakh for hospitalization expenses

4) Rs10,000 for transportation of mortal remains in the event of death or injury from a train accident or other 'untoward incident'


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