Stanbic launches insurance for SMEs
Keikantse Lesemela | Wednesday September 3, 2014 15:33
The insurance is specifically designed for businesses, covering all machinery, equipment computers and other assets of the operations.
Launching the product yesterday, Stanbic Bank head of SME, Onkabetse Morapedi said the product has been introduced to boost SME development.
“We recognise and value the potential of SMEs as a strategic engine of growth contributing towards economic diversification, job creation and poverty alleviation in the economy,” he said.
He said Bizprotect is a testament of Stanbic Bank’s commitment to offering both relevance and value to the economy. Features and benefits for the product include cover for business contents in the event of burglary and armed robbery, fire accidental damage and other risks.
The policy is offered in two parts; Bizprotect offered at a limit of P25,000 and the monthly premiums at P200 while Bizprotect Plus covers up to P500,000 with a monthly premium of P350.
Stanbic Bank Botswana Banc assurance manager, Kemmonye Phaladi said, “Our goal is to support the aspirations our customers have for their business and in the unfortunate event of a loss, we will do our very best to have the business backup and running without inconvenience or delay”.
Phaladi explained that policyholders could benefit from business liability on the increased cost of working, medical expenses bereavement expenses and trauma expenses.