Standard Chartered Bank, India's largest international bank, has launched the "Plus Extended Protection Plan" in association with Tata AIG General Insurance Co. Ltd. This unique product will provide card customers lost card insurance for the period prior to reporting the loss.

The insurance cover will reimburse (up to INR 50,000 per occurrence) any fraudulent transaction occurred on the lost card up to 12 hours prior to the customer reporting the loss to the bank. Any payment card, debit or credit can be registered for this cover

Speaking at the launch, R. L. Prasad, General Manager, Credit Cards & Personal Loans, Standard Chartered Bank said, "Standard Chartered receives several lost card reports in a month. Understanding the inconvenience and anxiety caused to our customers, we felt the need to launch the PLUS Extended Protection Plan. The product will ensure protection to our valued customers against any fraudulent use. It has been our utmost priority to provide unmatched services to our customers and with this new service, we also hope to reach out to new customers who have till date, avoided availing credit cards due to the fear of frauds."

Gaurav D. Garg, Managing Director, Tata AIG General Insurance Company Limited said, "We are proud to partner with Standard Chartered Bank and introduce this first of its kind product in the Indian market. People are moving away from conventional modes of payment and a large number are opting for cards. This product seeks to encourage the confidence of the people who use credit cards ".

Plus Extended Protection Plan also offers 5 other insurance covers:

*       ATM assault and robbery Insurance:
*       Lost wallet Protection.
*       Purchase Protection
*       Home Protection while away
*       Personal Trip Effects Insurance

Sourced From: LINOpinion - The Lintas Public Relations Division