According to the association, 90% of FuMMA members do not have any insurance coverage against losses suffered during such calamities. “Furniture merchants were hugely affected by the recent calamity. The insurance package we are introducing in tie-up with the New India Assurance Company will give a cover of up to Rs 12 lakh for small-scale furniture merchants,” said FuMMA district president Shahjahan Kalluparambil.
The plan is to provide free insurance coverage to a minimum of 100 members in each district and a total of 1,500 members in the state. Though only association members are eligible for the coverage under the scheme, the association membership has been kept open for fresh applicants. The membership is free.
The premium for the insurance scheme will be mobilized through furniture festivals to be conducted annually and through sponsorship mainly from the furniture raw-material suppliers, said office-bearers of the association.