Insurers on Monday recommended the government of bringing all the apparel industry workers under the insurance coverage to ensure due compensation in case of their death.
Bangladesh Insurance Association (BIA) wrote to labour ministry to make it mandatory for the factory owners to ensure the workers’ insurance coverage.
“All workers working in the garment factory should be brought under the coverage of insurance mandatorily so that in case of death of garment workers insurance companies may make payment of adequate compensation,” it said in a statement.
The BIA will donate to the prime minister’s relief fund for the victim families of Rana Plaza collapse that caved in on April 24, killing more than 1100 people.
The association asked its member companies to follow strictly the payment of agency commission within the limit stipulated by the IDRA (Insurance Development and Regulatory Authority) for the interest of the individual insurance companies and of the insurance industry as a whole.
It also called upon IDRA to gear up regular inspection and monitoring of the operational activities of the insurance companies to ensure congenial environment in the industry, which is an important segment of the national economy.
For smooth functioning of the insurance companies, it also requested the regulator to publish all rules and regulations through gazette notification at the earliest.