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Message: <blockquote data-quote="monson" data-source="post: 24266214" data-attributes="member: 30005">Allianz picked over local to offer ‘cheaper’ school insuranceBy Chrishanthi ChristopherCabinet last week approved Rs.1.8 billion for the Ministry of Education to engage private insurer Allianz to provide health insurance for 4.3 million schoolchildren.The ministry said it would sign an agreement with Allianz Insurance at a cost of Rs.1.6 million plus VAT to renew the Suraksha health insurance scheme that lapsed last October. The payment covers schoolchildren from December 1, 2018 to November 30, 2019.It is learnt that the presidential procurement committee picked Allianz. <img src="/styles/default/xenforo/smilies/default/lol.gif"  class="smilie" loading="lazy" alt=":lol:" title="LOL    :lol:" data-shortname=":lol:" />The payment to Allianz is claimed to be lower than the Suraksha insurance cover taken with Sri Lanka Insurance (SLIC) in 2018 at a total cost of Rs. 2.7 billion.The government said the new deal ensures maximum benefits to students and minimum cost to the government.New proposals on accident benefits, permanent disability, death benefits and provision for incurable diseases have been included in the 2018/2019 Suraksha scheme.The annual limit per student for accidents benefits has been increased from Rs.100,000 to Rs. 200,000. In the case of death of a parent, the payout rises from Rs.75,000 to Rs. 200,000. Funeral expenses up to Rs.150,000 will be paid for a student’s death. Payments for a permanent or partial disability due to accident or chronic illness will range from Rs.50,000-200,000 according to the case. Additionally, a sum of Rs.200,000 or more has been included for critical or prolonged illness coverage.The benefits will commence without a waiting period using the Suraksha card or recommendation of school principal/authorised officers and will have no sub limit. The ministry will also set up a contingency fund for students for unexpected events including awareness and preventive programmes.The ministry has entered into a special arrangement with Allianz over claims. Accordingly, if claims are below 75 per cent during the period the insurer would refund the remaining premium up to 75 per cent to the ministry. If the claim ratio is more than 75 per cent during the period of agreement the ministry will repay the balance amount of the premium to Allianz.The insurance company will nominate an officer for every zonal education office to administer Suraksha and provide feedback from clients.Education unions said the government was wasting money on insurance schemes and the funds could be better used for improving education.The Ceylon Teachers Union (CTU) said children between the ages of five to 19 years were generally in good health and seldom fell sick.General Secretary Joseph Stalin said claims last year amounted to a mere Rs. 237 million with SLIC gulping the major portion of the Rs. 2.7 billion payment.He also claimed SLIC had re-insured Suraksha with an Indian company and Rs.100 million from this deal had been given to the Ministry. “The Ministry of Education said it would form a special fund for students with this money but nothing happened. “Where did this money go?” Mr. Stalin asked.- <a href="http://www.sundaytimes.lk/190113/news/allianz-picked-over-local-to-offer-cheaper-school-insurance-330036.html" target="_blank">http://www.sundaytimes.lk/190113/news/allianz-picked-over-local-to-offer-cheaper-school-insurance-330036.html</a>Thawath sirisenage boru natumak <img src="/styles/default/xenforo/smilies/default/lol.gif"  class="smilie" loading="lazy" alt=":lol:" title="LOL    :lol:" data-shortname=":lol:" />Ministry of Education initially selected Sri Lanka Insurance. Then Allianz Insurance appealed to president appointed procurement committee and they gave it to Allianz .</blockquote>

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