UNDER an agreement with the Yangon Division Buses Control Committee (Highway), Myanma Insurance under the Ministry of Finance and Revenue on September 1 began offering travel insurance to bus passengers.

The premium is K50 for those who travel 100 miles or less, and K100 for more than 100 miles. In the event of death, compensation is K500,000 for K50 premiums and K1 million for K100 premiums.

Figures from the Travel Insurance Department showed that a total of K236.891 million in pre-miums was paid to the department during the 2005-2006 fiscal year, and K36.3 million in compensation was paid out. In 2004-2005, the department brought in K187.741 million in premiums and paid out K11.8 million in compensation.