Economy, Business And Markets

Collateral Protection Insurance

Collateral Protection Insurance Collateral Protection Insurance

Tejarat Nou Insurance, affiliated to Tejarat Bank, has signed an agreement with Post Bank Iran to insure property held as collateral for loans made by PBI. Tejarat Nou’s CPI insurance policies will cover houses, offices and industrial units including the furniture and equipment, Post Bank’s website reported on Wednesday. The coverage also includes losses caused by natural disasters. Based on the agreement, more than 12,000 branches and sub-branches of Post Bank will soon start offering the policies. Post Bank, a commercial state-owned lender, is mostly active in rural areas. The bank was recently selected as the agent bank for financing rural businesses.