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SMEs insurance cover product launched

STANDARD Chartered Bank and African Life Assurance have launched an insurance product that will provide cover for small and medium-scale enterprises (SMEs) against unforeseen calamities.
The initiative dubbed ‘Enterprise Life’ enables principal members insure human capital against unforeseen tragedy, thus providing stability to the institution and continued existence.
Speaking at the launch yesterday, Deputy Minister of Commerce, Trade and Industry Raymond Mpundu said the move will go a long way in ensuring continuity of enterprises after the passing on of key personnel.
“The product is timely as Government is looking for ways of reducing risks associated with SMEs. This product will go a long way in ensuring the continuity of enterprises…, rendering a peace of mind knowing that such times have been planned for in advance through insurance products,” he said.
At the same occasion, Standard Chartered Bank managing director Andrew Okai said life insurance solutions are key in managing risks that SMEs encounter.
“It is vital to rely on insurance services that provide financial relief in view of the economic turbulences being faced in the country,” he said.