OREANDA-NEWS. January 27, 2010. IC ROSNO has concluded an agreement with Sberbank of Russia on implementation of the joint project "Credit Insurance", which is expected to provide insurance coverage to the bank’s retail borrowers, reported the press-centre of ROSNO.

The conclusion of the Federal Agency Agreement between ROSNO and Sberbank will enable employees of the bank’s offices to issue insurance contracts for the borrowers.

Pursuant to the terms of cooperation, the bank’s employees will be able to offer clients an insurance coverage by ROSNO in two segments:

pawn insurance under personal mortgage loans and car loans (real estate insurance, MOD insurance)

voluntary accident and sickness insurance for the recipients of consumer loans and car loans.

It is these insurance products which guarantee protection of property, life and solvency of the borrower, which is important for the lending bank.

The pilot project was launched in September 2009. In March 2010, the pawn insurance section of the project will be extended to all of the bank’s offices. The agreement will be effective throughout Russia. According to the terms thereof, ROSNO has already conducted, and continues to carry out, training of the bank’s employees.

"ROSNO’s strategy contemplates using and developing those sales channels which are convenient for our clients. The issuance of insurance policies directly by the bank saves the borrowers’ time. We are certain that the convenience of this innovation will be appreciated by the clients of Sberbank", comments Mr. Artashes Sivkov, Deputy CEO of ROSNO.