Helping those in the time of need, ACL Cables PLC awarded insurance compensation of Rs. 1.2 million to the family of a deceased electrician recently.
ACL Cables, the nation’s number one cable manufacturer, together with Ceylinco Insurance, Sri Lanka’s insurance giant, awarded compensation to the family of the deceased electrician who met with an accident while working. The electrician, who had been a member of a unique insurance scheme obtained by ACL Cables was residing in Horana, Ingiriya, and the compensation was awarded to his wife and two children, thus supporting their livelihood.
This unique insurance scheme is designed exclusively for professional electricians registered with ACL Cables as a value addition. The novel insurance scheme offers a wide range of benefits for electricians, including coverage from any type of injury or loss due to accidents whilst working, as well as any other accident.
The insurance policy was designed considering the risks electricians face whilst doing their job and their need to be protected with adequate insurance cover in order to mitigate any losses due to accidents etc. This was a grave need that was fulfilled by ACL Cables, thereby protecting electricians with an insurance cover as well as benefiting their families in the event of an unfortunate incident.
The insurance scheme is provided by Ceylinco General Insurance as a 24-hour worldwide Cover that compensates the loss of life of any electrician registered with ‘ACL Powerpack Electricians' Club’. It covers injuries and death due to any accident up to Rs 1.2 Million which includes accidents while riding motorbikes and also provides a funeral expenses cover in the event of death.
Currently ACL Powerpack has insured around 3,000 electricians of its base under the policy with Ceylinco General Insurance. The Club was formed as an initiative by ACL Cables to improve the skills and living standards of electricians across the island. Among the range of benefits provided to members of the Club are skills training and development, knowledge sharing sessions, exclusive debit card facilities, and eye clinics in addition to the insurance scheme.
ACL Cables PLC is Sri Lanka's largest cables and electrical accessory manufacturing group with annual revenues surpassing Rs. 35 billion and net profits over Rs. 5 billion as a Group. Other than its primary business of cable manufacturing, ACL also supplies and markets electrical switches, circuit protection devices (MCB, RCD and Isolator), ceiling fans and many other electrical accessories.
Sri Lanka's No.1 cable company, ACL Cables PLC was ranked amongst Sri Lanka's Top 40 Corporates according to leading magazine Business Today’s Top 40 for the year 2021/2022.
Ranked in 32nd position, notably ACL Cables was the only cable company to be listed in the Top 40 and honoured by its first-ever listing in the prestigious rankings. Furthermore, ACL was among one of three companies in the building material industry to be recognised amongst the Top 40.
ACL Cables PLC, the nation’s No.1 cable manufacturer, has been ranked as the most valuable building material brand, according to LMD Brands Annual Ranking 2022 published by Brands Finance Lanka, the premier index of Sri Lanka’s most valuable consumer brands. Notably, this was the second consecutive year for the brand ACL, to achieve the celebrated milestone.
Reinforcing the company’s position, ACL was also ranked as the most loved brand in the category of building ma...