The insurance policy ‘Swiss Visual Pro’ will be provided free of charge to the first 300 clients who receive the Express Credit at the Societe Generale Albania Bank. This policy makes available for insured individuals an immediate fixed payment of 300,000 Lek in case of full house damages by earthquakes. For the first year this policy’s premium will be covered 100% by the Bank for said clients.
Starting from September 5th, 2017, 300 clients of Societe Generale Albania Bank can apply for this earthquake insurance. After the first year they can choose whether they want to continue with a coverage directly from the Albsig insurance company.
This product is enabled by the Catastrophe Risk Insurance Programme in Southeast Europe, funded by the Swiss State Secretariat for Economic Affairs (SECO) and the World Bank. This programme aims at raising awareness of the population on insuring property against earthquakes.
Due to its geographic position Albania is at risk from earthquakes as a result of high seismic activity. Recent studies place Albania among the most at-risk countries in the region together with Greece and Turkey. However, only a small part of the population is covered by insurance. The authorities and international institutions are calling for the population in such countries to insure properties from earthquakes in order to prevent heavy economic and social consequences.
This product responds to the real needs among clients but it also aims to make Albanian citizens aware on the need to insure buildings from catastrophe risks.
For more information:
Europa Re, Representation office in Albania
Tel: +(355) 4500 675
