HDFC ERGO General Insurance made a partnership with Visa, to provide curated insurance covers for Visa’s business cardholders especially the MSMEs (Micro, Small & Medium Enterprises).
- 2 insurance policies were provided under the partnership viz, Business Suraksha Classik and my:Credit Personal Accident Insurance group policy.
Business Suraksha Classik policy:
i.This policy is to provide small traders and shop owners with a safety mechanism from accidents due to Fire, Floods, Earthquake, Burglary, Cash in kept in a safe, among others.
ii.It also includes enhanced add-ons under the Fire section such as spontaneous combustion, waiver of under insurance up to 15 percent, increased limits for architect/surveyor fees, and removal of debris.
my:Credit Personal Accident Insurance group policy:
i.It provides a total sum insured of up to Rs 1 crore subject to the credit limit of an individual cardholder for a tenure of 1 year.
ii.Eligibility: Adults between the age group of 18 to 60 years are eligible, and it is customised and its benefits are exclusively made for Visa customers.
iii.This policy is divided into 2 different insurance offerings, Accident Shield and Permanent Disability plan.
- Accident Shield: Under this, the assured sum will be provided to an individual (or family) if the insured sustains an injury due to an accident which shall within a year of its occurrence is the sole and direct cause of death.
- Permanent Disability Plan: This plan will be applicable if the insured is permanently disabled due to an accident.
Recent Related News:
On May 10, 2021, HDFC Bank and Common Services Centers (CSCs) announced the launch of a chatbot called ‘Eva’ on CSC’s Digital Seva Portal to support Village Level Entrepreneurs (VLEs).
About HDFC ERGO General Insurance Company:
It is a ‘Digital First’ insurance company, formed by a joint venture of 51:49 between Housing Development Finance Corporation Ltd. (HDFC) and ERGO International AG, insurance entity of the Munich Re Group of Germany.
Headquarters – Mumbai, Maharashtra
MD & CEO – Ritesh Kumar
About Visa:
Headquarters – California, United States
Chairman and CEO – Alfred F. Kelly, Jr.
