SLIC repositions Business Club insurance | Daily News

SLIC repositions Business Club insurance

Sri Lanka Insurance has repositioned it’s Business Club insurance to include trade insurance which provides a comprehensive business insurance solution to fit the diverse insurance need of Small and Medium Enterprises (SME).

According to the Export Development Board of Sri Lanka SMEs are considered to be the backbone of the economy with a contribution up to 52% of the GDP. SMEs play a crucial role to battle poverty in the country providing employment opportunities for the youth as SMEs does not require capital than large firms. Further SMEs increase tax bases much more quickly when compared to large firms.

Recognizing the importance and vital contribution made to the economy by SMEs, Sri Lanka Insurance went back to the drawing board to refine the “Business Club” comprehensive insurance solution to cater to the unique requirements of the businesses. Therefore the insurance solution was developed to reinforce the success and safety of the businesses.

The insurance plan will protect any business be it retail, grocery store, supermarket, pharmacy or any other covering many perils inclusive of environmental dangers such as floods, cyclones, fire, lightning as well as other factors such as breaking and burglary.

An array of main covers are available for businesses inclusive of fire and/or lightning, explosion, malicious damage, aircraft damage, earthquakes along with the free covers such as cost of removal of debris, loss of rental, architect, surveyors, consulting engineering fees, cost of alternative accommodation etc...

A range of additional covers is also available at an additional premium for businesses to choose from. Money insurance during transit and while at premises, accidental breakage of the glass cover, signboard cover, electronic equipment all risk cover are among the many additional covers offered.

Interested parties who like Sri Lanka Insurance to assist in developing an insurance solution that covers the business risks can contact the SLIC call centre.

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