The insurance cover provides protection for accidents, medical emergencies, loss of baggage and event cancellation
Running marathons is no mean feat. Apart from the physical strains, it involves the risk of injuries as well. To offer an insurance cover to those running such long distances, digital insurance broking firm Symbo India Insurance Broking has launched marathon insurance. Here, Reliance General Insurance will be offering insurance cover.
Under this product, event ticketing company Goeventz is a partner. So, whenever one registers for a marathon through this website, one can opt for an insurance cover for Rs 49.
Here, the insured is provided a personal accident sum insured of Rs 1 lakh, apart from a medical emergency sum insured of Rs 50,000. The event cancellation sum insured is Rs 10,000. Further, if you lose your baggage, you will be paid out Rs 5,000.
The policy also offers runners cover in case of event cancellation by an organiser or if the participant cannot run due to health issues, accident or bereavement, along with a flight cancellation or loss of checked-in baggage during transit. The expected claims settlement period is 10 days.
Here, Symbo’s technology platform will also handle all customer service and claims activity for policyholders.
“More Indians are taking up running and the number of marathon participants are growing exponentially, with several hundred thousand runners now participating in races every year,” said Anik Jain, Co-Founder and Chief Executive Officer, Symbo India Insurance Broking, adding that this insurance will be relevant for these individuals.
"This innovative product marks our broader commitment to keep pace with the evolving needs of India’s consumers and deliver insurance that is contextual and relevant,” he stated.In addition to marathon insurance, Symbo had previously launched vision insurance as part of its lifestyle-based portfolio. The vision-related products, available through a network of opticians, offer protection for cataract surgeries, eye care and spectacle damage.