Travel insurance scheme for railway passengers

Travel insurance scheme for railway passengers
Travel+insurance+scheme

GOVERNMENT OF INDIA
MINISTRY OF RAILWAYS

RAJYA SABHA
UNSTARRED QUESTION NO. 3146 
ANSWERED ON 20.03.2020

INSURANCE SCHEME FOR RAILWAY PASSENGERS

3146. SHRI PRABHAKAR REDDY VEMIREDDY :

Will the Minister of RAILWAYS be pleased to state:

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(a) when was the optional travel insurance scheme for railway passengers introduced;
(b) the money collected under the above scheme since implementation, year-wise and zone-wise;
(c) the details of sum assured under the above scheme;
(d) the details of compensation paid to victims or their family members since introduction of the scheme, year-wise and zone-wise;
(e) whether it is a fact that earlier, between 2017 and 2018, the insurance cover was made available for free but was charged for again in September, 2018; and 
(f) if so, the reasons therefor ?

ANSWER
MINISTER OF RAILWAYS AND COMMERCE & INDUSTRY
(SHRI PIYUSH GOYAL)

(a) to (f): A Statement is laid on the Table of the House.

STATEMENT REFERRED TO IN REPLY TO PARTS (a) TO (f) OF UNSTARRED QUESTION NO. 3146 BY SHRI PRABHAKAR REDDY VEMIREDDY ANSWERED IN RAJYA SABHA ON 20.03.2020 REGARDING INSURANCE SCHEME FOR RAILWAY PASSENGERS.

(a): The Optional Travel Insurance Scheme was introduced w.e.f 01.09.2016.
(b): The Insurance premium collected under the scheme since implementation, upto Feb, 2020 is as follows:-

Year
Period
Premium Amount Collected from Passengers
(` in Crores)
2016-17
(01.09.2016 – 09.12.2016)
2.56
(10.12.2016 -31.03.2017)
8.46
(Free to passengers during this period, premium paid by IRCTC)
2017-18
(01.04.2017 - 31.08.2018)
38.54
(Free to passengers during this period, premium paid by IRCTC)
2018-19
01.09.2018 - 31.03.2019
8.53
2019-20
01.04.2019-29.02.2020
12.71

Since the premium is directly collected by the Insurance Companies, zone-wise data is not available.
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(c) The Sum assured under the Scheme is as follows:- 

  •  In case of Death- ` 10 lakh, 
  •  Permanent Total Disability - ` 10 Lakh, 
  •  Permanent Partial Disability up to- ` 7.5 Lakh, 
  •  Hospitalization Expenses for Injury – ` 2 Lakh, 
  •  Transportation of mortal remains – ` 10 Thousand. 
(d): The details of compensation (insurance claim) paid by insurance companies to the victims or family members since introduction of the scheme are as follows:-

Year
Claims paid by Insurance Companies
(` in Crores)
2016-17
0.76
2017-18
3.59
2018-19
6.12
2019-20
3.53

 1. The insurance claims paid in a year may not be related to the accidents/causalities in that year alone. The amount depends upon the number of cases which are finalized and payment made in a particular year irrespective of the year(s) in which the accidents/causalities took place. 

2. Since, the Insurance claims are directly settled by the companies, Railways have no zone-wise data. 

3. The insurance claims paid by insurance companies during 2019-20 are due to Untoward incidents as defined in Section 123 (C) read with Section 124A of the Railways Act, 1989.

(e): Yes, Sir.

(f): As directed by Ministry of Finance to promote digital/cashless transaction, the insurance cover was made free from 10.12.2016 to 31.08.2018 to all passengers buying Confirmed/RAC online/ e-tickets from IRCTC website.

Since Ministry of Finance refused to reimburse the premium to IRCTC beyond 31.08.2018, Ministry of Railways decided to again charge premium from the passengers opting for insurance from 01.09.2018.

Source : RAJYA SABHA

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