Fishermen's Cooperative Society (FCS) on Friday renewed an insurance policy with Askari General Insurance (AGI) after a gap of two years to provide cover to fishermen against accidental death in the sea.
Administrator FCS Tahir Mazhar Dada and SVP AGI Najam Irshad signed the renewal agreement at the Society's office in presence of former directors Haji Shafi Jamote, Haji Younus and Babu Ismail.
According to the agreement, each fisherman needs to pay Rs 120 per month to the insurance company, which will pay a compensation of Rs 200,000 to the family of every fisherman on his accidental death during fishing in the deep sea.
In case of injury or damage to a limb, the fisherman will also get a compensation from the insurance company. It may be noted that the insurance cover was provided to fishermen six year ago. But after four years, the insurance cover was discontinued for two years as the previous management failed to pay premium on behalf of fishermen. Several fishermen lost their lives during the last two years, but their families could not get any compensation due to absence of insurance cover.
Speaking on the occasion, Mazhar Dada said the renewal will once again enable families of fishermen to get compensation in case of accidental death and injury. He also picked one FCS employee to perform Haj and two lucky winners to perform Umrah at the expense of the Society.