Document Portal -- Government of Kerala

Kerala government revamps MSME insurance scheme with revised guidelines

To protect and promote Small and Medium Enterprises (MSMEs) in the state, the Government of Kerala has approved revised guidelines for the MSME Insurance Scheme. The new guidelines, issued by the Industries Department, aim to enhance the scheme's effectiveness and provide greater security and protection to MSME entrepreneurs.

New directives:

-Include private sector insurance providers in the scheme and expand options for MSMEs.

- The revised scheme is designed to include a broader range of MSMEs. It will now also benefit MSMEs in sectors that were not previously covered.

- September is designated as the month for introducing new insurance policies.

- District-level committees will be formed with insurance companies to facilitate implementation.

- Targets will be set for Taluk Industrial Centers and Panchayat-Level Enterprise Development Executives.

The new scheme is designed to include a broader range of MSMEs and will now benefit those in sectors not previously covered. Private sector insurance providers will also be included in the scheme. Insurance coverage has been enhanced to cover losses from incidents such as natural calamities, accidents, and fires. The scheme will reduce insurance premiums, allowing more MSMEs to benefit. An online application facility is provided for the insurance policy. The scheme will benefit manufacturing, service, and trading sector MSMEs registered in Kerala.

https://document.kerala.gov.in/documents/governmentorders/govtorder0208202418:56:36.pdf

14-08-2024