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Kerala Launches Groundbreaking Insurance Scheme for MSMEs

By Doraj Mandal --
Friday, 13 Oct, 2023

The Kerala Government has unveiled a comprehensive insurance scheme covering Micro, Small, and Medium Enterprises (MSMEs) to shield them from various risks and bolster their confidence in a competitive business environment. The insurance scheme will provide crucial support to MSMEs in recovering from unforeseen risks they might encounter.

This initiative provides a safety net for Kerala's thriving MSME sector, shielding businesses from a spectrum of risks. It instills confidence, enabling them to flourish in a competitive business landscape.The insurance scheme covers an array of risks, including natural disasters, accidents, theft, and market fluctuations, safeguarding MSMEs from substantial financial losses.

All MSMEs in the manufacturing, service, and trade sectors with UDYAM registration in Kerala, and enrolled in the "Bharat Sookshma/Laghu Udyam scheme" from any of the four designated public sector insurance firms after April 1, 2023, are eligible for benefits. Enterprises can receive a reimbursement of 50% of their annual premium, up to a cap of Rs 2500.

Kerala Launches Groundbreaking Insurance Scheme for MSMEs. The Kerala Government has unveiled a comprehensive insurance scheme covering Micro, Small, and Medium Enterprises (MSMEs) to shield them from various risks and bolster their confidence in a competitive business environment. The insurance scheme will provide crucial support to MSMEs in recovering from unforeseen risks they might encounter. 
 
This initiative provides a safety net for Kerala's thriving MSME sector, shielding businesses from a spectrum of risks. It instills confidence, enabling them to flourish in a competitive business landscape.The insurance scheme covers an array of risks, including natural disasters, accidents, theft, and market fluctuations, safeguarding MSMEs from substantial financial losses. 
 
All MSMEs in the manufacturing, service, and trade sectors with UDYAM registration in Kerala, and enrolled in the "Bharat Sookshma/Laghu Udyam scheme" from any of the four designated public sector insurance firms after April 1, 2023, are eligible for benefits. Enterprises can receive a reimbursement of 50% of their annual premium, up to a cap of Rs 2500.