OREANDA-NEWS. July 06, 2011. Within the scope of implementing strategy in the sphere of staff development and motivation, the Bank of Moscow has concluded an agreement with VTB Insurance. The agreement envisages inclusion of Voluntary Medical Insurance policies in the social benefits package provided to 3 200 members of the Bank’s staff working in Moscow and the Moscow Region. From August 2011, the programme will also cover the Bank’s branches.

Under the corporate insurance programme, the Bank’s staff may receive medical treatment free of charge at the best medical institutions in Moscow.

According to Deputy General Director of VTB Insurance Mikhail Motorin, insuring personnel is an effective way not only of increasing staff loyalty, but also reducing an organisation’s costs. "A properly organised Voluntary Medical Insurance system provides a solution to many staff problems by reducing time taken off work for sickness among the staff and increasing productivity", he says.

"By providing our staff with a Voluntary Medical Insurance programme, we are joining the best corporate practices of the VTB Group in the sphere of social protection of personnel", commented Nadezhda Filippova, Senior Vice President of the Bank of Moscow. "In the future, we have many new solutions for providing Bank of Moscow personnel with support and development opportunities".