21 August 2014

Kenya: Jamii Bora and Heritage Sign Card Insurance Deal

Jamii Bora Bank will issue the new debit cards which come with an added insurance package to its more than 300,000 customers next month, after signing a deal with Heritage Insurance yesterday.

Customers will be paid up to Sh40,000 losses incurred if their cards are fraudulently used or stolen and stolen cards will be replaced at no extra cost. However the loss must be reported to the bank and the police within 24 hours.

The card will also come with insurance for any item purchased using it for a period of up to 90 days.

"The goods will be insured against theft, burglary, robbery and accidental loss," said Samuel Kimani, chief executive officer of JBB. A life cover will be another value included in the new EMV card.

He also said that the bank is planning to begin issuing credit cards in partnership with Master Card.

Copyright © 2014 The Star. All rights reserved. Distributed by AllAfrica Global Media (allAfrica.com). To contact the copyright holder directly for corrections — or for permission to republish or make other authorized use of this material, click here.

AllAfrica publishes around 2,000 reports a day from more than 130 news organizations and over 200 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.