travel insurance irctc chennai station passengers growth travel policy growth indian railways
Passengers at Chennai Central waiting to board trains on Sept. 25, 2016.IBT Media/S V Krishnamachari

The launch of travel insurance for railway passengers for just Re. 1 by the Indian Railway Catering and Tourism Corporation (IRCTC) saw as many as 10 million (1 crore) passengers availing the benefit in just 30 days.

The IRCTC had introduced the optional travel insurance policy on September 1, covering death or disability arising out of various "untoward incidents," including terrorism. 

In addition to terror attacks, the insurance cover includes dacoity, rioting, shoot-out and arson, and is also applicable to passengers travelling on diverted route, Vikalp and short-termination trains.

Passengers who buy their tickets on IRCTC's website, irrespective of the category or class of ticket, are covered. But it does not cover passengers travelling on suburban trains.

The scheme offers travellers, or their families, compensation of up to Rs 10 lakh in the event of death or permanent total disability, Rs 7.5 lakh for permanent partial disability, and up to Rs. 2 lakh for hospitalisation expenses.

"The optional insurance scheme has elicited an extremely favourable response from the rail passengers.. In less than a month, the passenger-friendly measure has been opted for by one crore passengers till Thursday (September 29)," IRCTC chairman and managing director AK Manocha said in a statement, reported IANS.

The insurance cover starts from the actual departure of the train from the originating station to its actual arrival at the destination station, including the process of entraining and detraining.

The IRCTC has partnered with private insurers ICICI Lombard General Insurance, Royal Sundaram and Shriram General to implement the travel insurance facility.