Bank of Moscow and Insurance Group MSK to Insure Card Holders
OREANDA-NEWS. June 29, 2010. The Bank of Moscow and "Insurance Group MSK" have announced the launch of the joint program to insure risks of the Bank’s cards holders.
Now the clients of the Bank of Moscow, whose salary is transferred to the Bank cards, and also holders of the debit, credit and social cards are protected from the risk of the unauthorized writing of the cash funds off the account. The maximum amount of the compensation shall reach 50 000 rubles a year in case the money is stolen from the account of the Bank client.
"Our solution with regard to the cards holders protection from the risks of the unauthorized access to the account is aimed at the growth of the client service quality, — Dmitry Breitenbikher, Managing Director of the Private Bank Service Department, commented. — Currently we serve over 13 million cards, and we provided all our clients with the insurance free of charge — it is an absolutely unique proposal in the market. We care about the comfort of our clients offering high-quality and technologic financial solutions to them".
The insurance program extends to all valid cards of the Bank of Moscow and to the newly issued cards of the Bank, and this service shall be rendered at the expense of the Bank of Moscow within the first year. The client will be provided with a possibility to acquire the insurance program and its own expenses according to the rates developed specially for the Bank of Moscow, later on.
According to Alexander Sudakov, President of "Insurance Group MSK", "the implemented program protects the Bank of Moscow card holders from damage occurring in the event of the unauthorized writing of the money off the client account as a result of the third parties’ fraudulent actions including skimming, which is a main risk going along with the card use". The Bank of Moscow clients will be enabled to expand the list of the insured risks and increase the amount of the insurance protection in the near future.