Sports Ministry ropes in insurance partner

The Sports Ministry has roped in Oriental Insurance Company Limited as its insurance partner under the Target Olympic Podium (TOP) scheme for athletes. "The said step of designating Insurance partner has been taken for the first time by the Department of Sports and is a part of its plan in seeking support from companies both in Private and Public sector under their CSR initiatives for sports," the Ministry said in a statement.

Chairman and Managing Director of Oriental Insurance, Dr. AK Saxena gave a cheque of Rs 5.8 lakh to Secretary Sports, Ajit Sharan as their initial contribution to NSDF as reimbursement of Insurance premium of athletes.

"As and when more athletes formally sign up for TOP scheme, the MYAS will take their insurance policy and Oriental Insurance will reimburse the premium amount to NSDF as CSR," the Ministry said.

The Ministry had sought bids from public sector insurance companies for providing insurance cover to athletes under the TOP scheme for indoor medical treatment up to Rs 10 lakh and insurance of Rs 50 lakh in case of death or permanent disability due to accident till Olympics 2016.