Kuwait Petroleum Corporation putting final touches for signing collective insurance policy contract

Beneficiaries of the insurance policy in the oil sector reached more than 23,000 employees in KPC and its subsidiaries

  
Oil is collected at a production facility at the Burgan oil field January 13, 2003 in Central Kuwait. Image used for illustrative purposes.

Oil is collected at a production facility at the Burgan oil field January 13, 2003 in Central Kuwait. Image used for illustrative purposes.

Getty Images/Scott Nelson

KUWAIT CITY: Kuwait Petroleum Corporation (KPC) is putting the final touches for signing the collective insurance policy contract for life, personal accidents and work injuries in the oil sector for the 2021/2022 insurance year, reports Al-Anba daily quoting sources.

Sources confirmed that KPC obtained approval from the State Audit Bureau (SAB) last week to sign the contract with the winning company, indicating the contract value is KD12.2 million.

Sources disclosed the beneficiaries of the insurance policy in the oil sector reached more than 23,000 employees in KPC and its subsidiaries.

Sources added the Risk Management Department in KPC prepared the required documents to obtain comprehensive coverage for the insurance of all employees.

Sources affirmed the oil sector is keen on taking care of human resources, indicating the insurance coverage guarantees a decent life for workers and their families in case the employees are injured or they die due to an accident inside and outside work.

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