Standard Bank promises better rates for TradeSure
Standard Bank says it is ready to provide better rates on TradeSure—an exclusive insurance product that covers individual shipments from origin to final destination.
Speaking when the bank hosted members of the business community during a breakfast at Ryalls Hotel in Blantyre on Friday, the bank’s Bancassurance manager Isaac Chitsonga said the local service is easy to claim.
“This insurance product is targeted at all our customers across all segments who are involved in the import or export of goods, including equipment, fabric, electronic equipment, building materials, farm inputs, pharmaceutical products, spare parts and plant and machinery.
“The cover is for all risks and damage to the specified goods for the entire voyage.
Under the insurance, hijacking is covered provided the claim is reported within seven days,” he said.
According to the bank, some of the risks that are covered include loss of goods due to fire, collision and overturning of the conveyance and theft of goods.
Speaking on the importance of the service, Chitsonga noted that TradeSure offers great convenience to both trade payment and insurance cover because they are transacted under one roof.
Among other bancassurance products, Standard Bank also offers insurance in the personal markets space, such as funeral plan, home loan protection plan, vehicle loan protection plan and credit life insurance.
