Company to offer credit insurance on all household items and office equipment
Starting today, a local insurance company intends to bring Jordan's credit insurance services into a new era by offering coverage for purchases of computers and their accessories.
The Arab Life and Accident Insurance Co. said on Sunday that it planned to offer the service to help the public gain access to information technology.
“The service is in line with the [national] leadership's policy of spreading computer education in schools and higher education institutions,” said Daoud Kurd, the company's general manager.
“Today we are meeting with the Jordan Computer Society to discuss the issue of marketing computers using this technique,” he told the Jordan Times.
The initiative, which according to the insurance company is the first ever in the Kingdom, will cover computers, all household items and office equipment. Furniture, curtains, carpets, electronics and air conditioners will be on the list of insurable items.
The terms of the `Home and Office Comprehensive Financing Program' state that the bank will pay in cash for the items, after which the buyer will make installment payments to the bank.
Should the buyer falter or face difficulty in making his or her installment payments, the insurance company will take responsibility for paying off each bill as it comes due.
Because of the risk factor in this type of insurance, the company has decided to deal with only one local bank. The name of the bank was not disclosed.
In addition, the company will gather information about potential buyers through its subsidiary, the Arab Credit Services Co., before it approves such policies.
Raouf Abu Jaber, chairman of the Jordan Insurance Federation, hailed the initiative, calling it a “pioneering step, which helps cope with the trend towards modernization.”
“We commend such innovations... especially since insuring computers is a well-known kind of insurance worldwide,” said Abu Jaber. ― (Jordan Times)
By Rana Awwad
© 2000 Mena Report (www.menareport.com)