KSRTC has taken steps to quickly provide an insurance amount of Rs 10 lakh each to the three passengers who died in the Palakkad Vattakancheri bus accident. According to the scheme of KSRTC Act 2014, the amount of accident insurance is paid to passengers. As an emergency aid, Rs 2 lakh will be handed over to the family of Rohit Raj who died in the accident on Monday itself. The remaining eight lakhs will be made available once the procedures are completed. The amount will be paid once the post-mortem procedures of the other two are completed.
New India Assurance Co. Insurance cover for passengers is ensured from Ltd. For this purpose, the insurance scheme is being implemented by collecting a cess amount from Rs. Cess insurance is provided in addition to motor insurance loss coverage.
Cess Insurance has provision for medical compensation for accident injured and disabled persons. KSRTC has clarified that this is also available to other passengers who have traveled with KSRTC from the cess insurance once the claim is made.