FCMB Introduces Free Insurance Cover Product

First City Monument Bank (FCMB) Limited has announced its introduction of the Personal Business Account product, which comes with a free insurance cover of up to N1 million.

This covers the loss of goods/stock due to fire or flood disaster by traders and other business owners across the country.

A recent statement from the bank explained that the product guarantees traders, merchants, self-employed professionals and artisans, who operate businesses in their personal names, security in the conduct of such businesses in the event of unexpected disasters.

Speaking at the launch of the Personal Business Account at the Onitsha main market in Anambra State, the Chairman of the Traders Association, Chief Innocent Agudiegwu, said with a product like this, FCMB has demonstrated that it is responsive to the needs of not just businessmen and women, but to the people and society.

He added that it would solve the financial difficulties usually faced by businesses in the event of hazards.

The statement also quoted the Leader of the Women Wing of the Onitsha Market Traders Association, Mrs. Grace Okonkwo, to have commended the bank for putting the overall well-being of traders into consideration while designing the Personal Business Account.

“The addition of a free insurance cover as part of the benefits of the product shows that FCMB is a partner concerned about the sustainability and growth of one’s business,” she stated.

In a similar event in Abia state recently, the Chairman of the Ariara International Market Traders Association, Chief Lucky Akubueze, said, “this is a step in the right direction. Most of our traders are now out of business or struggling to come back because of the harm done by unforeseen circumstances like fire outbreaks.

“I strongly believe that a product like the FCMB Personal Account will help to reduce the pains and costs associated with such situations.”

In his response, the Regional Director, South-east and South-south of FCMB, Mr. Okey Ezeala, said, the bank introduced the product to further demonstrate its value as a helpful financial institution.