Albanian-Swiss cooperation in earthquake insurance products

Credins Bank, for first time ever in Albania, has launched earthquake insurance products for its 500 clients. The bank will provide the applicants with earthquake insurance premiums for one year. The policy provides the insured a fixed immediate payment of up to ALL 200,000 in case of complete damage of the apartment by the earthquake.The new product is called Swiss Visual Pro and is offered to the Albanian consumers through the insurance company Ansig and the reinsurance activity is supported by the reinsurance Swiss company New Europe, in the framework of South East and Central Europe Catastrophe Risk Insurance Facility, funded by Swiss State Secretariat for Economic Affairs (SECO), the Swiss government department. Credins Bank customers, who have been correct with loan payments, will have more chances to benefit from these 500 earthquakes insurance policies. The Bank is attending to provide that beneficiaries are chosen throughout the territory of Albania. Credins Bank, as the first and largest locally owned bank, gives importance to education of customers, individuals or businesses on the need to provide insurance from risks. Awareness on protection from natural risks is part of social accountability of Credins Bank. By combining the banking services with the insurance services there is created a positive synergy and benefit for all the parties.