Wholesalers and retailers insure businesses more often than others
Nearly 100,000 small and micro-sized companies have insured their businesses since May 2019 when Sberbank insurance launched its Save Your Business program.
Wholesale and retail businesses signed the biggest number of insurance contracts, accounting for about one-third of all policies, since these businesses have the most legal entities and sole proprietors of all. Other industries are: crop production (about 6%), transportation infrastructure and car transport (4% each), and food services (3%).
Companies from Moscow and Moscow Region signed 24% of insurance contracts; St. Petersburg, Nizhny Novgorod Region, and Leningrad Region accounted for 7% of policies each; Rostov Region, Sverdlovsk Region, Voronezh Region, Altai Territory, and Tatarstan took out 3% of policies each; Novosibirsk Region, Omsk Region, Perm Region, Volgograd Region, Saratov Region, Irkutsk Region, Stavropol Territory accounted for 2% each.
A policy is priced from RUB 3,000. Its final price depends on the number of objects you insure and liability limits. Your liability can be insured for up to RUB 10 mn, structures can be insured for up to RUB 6 mn, the liability limit for material assets is RUB 3.5 mn, engineering equipment, while interior decorations and movable property can be insured for up to RUB 3 mn. The insured value is capped at RUB 50 mn, with coverage including the most common risks (fire, stroke of lightning, natural gas explosion, theft, natural disasters, etc.).
We have improved the Save Your Business program, letting clients apply for premium refunds, amend the contract, and settle losses, all using the SberBusiness mobile app. Each client has access to a list of the most relevant objects in their industry, which helps to insure property and not miss anything. In addition, the program update has enabled us to reduce policy price by 20%.
Director of Corporate Insurance Center, SberbankSave Your Business is a kit letting small and micro-sized businesses protect their property interests and insure collateral. A company can create a unique insurance policy driven by its own needs and include just one object or several objects in it.