Thiruvanthipuram, Oct 13 (KNN) The Kerala government on Thursday launched an insurance scheme for Micro Small and Medium Enterprises (MSMEs), protecting them from various risks.

As per reports, the Industries Department has entered into an MoU with four public sector insurance companies namely National Insurance Company Ltd, United Insurance Company Ltd, Oriental Insurance Company Ltd and New India Assurance Company Ltd.

The state government under the scheme will reimburse 50 per cent of the annual premium to the MSMEs.

During the launch, Industries Minister P Rajeeve said, “This is an upfront initiative that will provide financial protection to MSMEs against all kinds of risks that can have a detrimental impact on their businesses. It is vitally important to safeguard enterprises with a proper insurance cover as that will create a conducive environment for them to flourish, compete and expand the market for their products and services.”

The minister also launched a web portal of the scheme- http://msmeinsurance.industry.kerala.gov.in/.  (KNN Bureau)