Economy, Business And Markets

IIC Cover for Olympians

IIC Cover for Olympians IIC Cover for Olympians

Iran Insurance Company Saturday signed a contract with the National Olympic Committee of Iran to provide coverage for 181 Iranian athletes participating in 2016 Summer Olympics in Rio. According to NOCI website, IIC will provide national teams with health, life and liability policies for a three-month period. Abbas Husseini, IIC head said that health policies will cover all the costs, whereas life and liability policies would indemnify up to 2 billion rials ($57,000) of the expenses. IIC will also grant medal winners with life-time monthly payments for the rest of their lives, though the amount is not finalized yet. The state-owned insurance giant said it is relying on donations from its employees and the public to provide funding for the pension plan for the athletes.