Some 50K customers of Russia’s Sberbank – small businesses and micro enterprises – have taken out Save Your Business insurance policies between May and late December 2019, corporate website reports. Insurance contracts were most popular in Moscow Region, Krasnodar Territory, Nizhny Novgorod Region, St. Petersburg, Leningrad Region, and Rostov Region.
In May 2019, Sberbank and Sberbank Insurance came up with Save Your Business, an insurance solution to protect the property interests of small businesses and micro enterprises online, as well as insure their collateral in real time. The basic Save Your Business policy covers fires, lightning strikes, and gas explosions, while next-level options add other types of explosions, hydraulic system breakdowns, natural disasters, human misbehavior, etc.
In 2019, businesses obtained insurance to cover structural components, interior design, engineering equipment, movable property, goods, and third-party liability with coverage varying between RUR 100K ($1,500) and RUR 24.5 mio and insurance policy averaging RUR 3,200 ($50).