Universal Sompo General Insurance, in alliance with Indian Overseas Bank, expresses deep condolences to the families affected by the recent tragic fire accident at a cracker manufacturing unit near Kancheepuram in Tamil Nadu. As a testament to our commitment to the well-being of individuals and communities, IOB Suraksha, our personal accident policy, promptly provided coverage to the affected workers and their families.
In a recent event, a fire broke out in the cracker manufacturing unit, leading to the unfortunate loss of eight lives and causing injuries to 16 others.
IOB Suraksha, with its comprehensive coverage against accidental death, injury, and permanent disability, proved to be a vital protection during this challenging time. Families of four deceased workers who were covered under the policy received claim settlement cheques of 10 lakhs In a heartfelt ceremony organized by Indian Overseas Bank recently, Mr. Ajay Kumar Srivastava, MD & CEO of Indian Overseas Bank & Shri. T.M. Anbarasan, Tamil Nadu State Minister for Rural Industries presided over the event, symbolizing the shared commitment to the safety and well-being of employees and factory workers.
Mr. Ajay Kumar Srivastava, MD & CEO of Indian Overseas Bank commented, “Our thoughts and prayers are with the families who have lost their loved ones and those who have been injured in this tragic incident. We are deeply committed to supporting them during these difficult times. IOB Suraksha, our personal accident policy, aims to provide financial security and peace of mind to individuals and their families when they need it the most.”
Mr. Sharad Mathur, MD & CEO, of Universal Sompo General Insurance Company, stated, “As an insurance provider, our purpose is to ensure that our customers have the necessary financial protection during unforeseen circumstances. We are committed to delivering on our promise of comprehensive coverage and timely claim settlements. Our partnership with Indian Overseas Bank has allowed us to extend the benefits of IOB Suraksha to a larger audience, enabling us to fulfil our mission of protecting lives and livelihoods.”
Universal Sompo General Insurance and Indian Overseas Bank reaffirm their dedication to the well-being and safety of individuals and organizations across the country. We extend our support to the victims and their families affected by this tragic incident and remain committed to delivering reliable insurance solutions that provide peace of mind.
About Universal Sampo General Insurance:
Universal Sompo is a Joint venture of Indian Bank, Indian Overseas Bank, Karnataka Bank, Dabur Investments, and Sompo Japan Insurance Inc. The company is headquartered in Mumbai and has 117 offices countrywide with representation through its digitally enabled employees. It has a strong distribution network of Agents, Point of salespersons, Bank Branches, Automobile Dealers, Brokers, Common Service Centres, and Digital Platforms. The company offers 205 IRDAI-approved products, and 1494 Add-on covers, ranging from Motor, Accident & Health, Home for Individuals, Shopkeepers Packages, Crop and other non-life packages for SMEs, Fire, Marine, Engineering, Employee Benefits, Project Insurance, Liability, and other special products for Corporates. Microinsurance covers the Rural segment.
The company maintains its Claims settlement ratio at 98.27% and has robust technology architecture to serve its customers nationwide.
