India’s First Policy To Protect Bank Locker Launched

IFFCO Tokio General Insurance has launched ‘bank locker protector policy’, the first stand-alone bank locker cover offered by any insurance company with a plan to protect the contents of a bank locker such as jewelry, title documents, and other valuables.

The policy offers a cover against various risks including fire, earthquake, burglary, holdup or any act of terrorism. It offers 7 options of sum insured ranging from Rs 3 lakh to Rs 40 lakh and above and the premium rate is affordable with a cover of Rs 3 lakh available at just Rs 300.

Source: Financial Express

Static/Current Takeaways Important for Uttarakhand District Cooperative Bank Exam:

  • IFFCO Tokio is a joint venture between the Indian Farmers Fertilizer Co-operative (IFFCO) and its associates and Tokio Marine and Nichido Fire Group which is also the largest listed insurance group in Japan.
  • IFFCO Tokio Chairman: Mr. K. Srinivasa Gowda, Headquarters: Gurugram, Haryana.

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