HNB and HNBA launch innovative ‘Lease Protector’ insurance cover

Tuesday, 22 September 2020 02:25 - - {{hitsCtrl.values.hits}}

From left: HNB Senior Manager – Bancassurance Chandana Waidyatilaka, HNB Assurance Head of Partnerships Sanesh Fernando, HNB Assurance Chief Operating Officer Lasitha Wimalaratne, HNB Assurance Chief Executive Officer Prasantha Fernando, HNB DGM – Retail and SME Banking Sanjay Wijemanne, HNB AGM – Network Management Vinodh Fernando, HNB Chief Manager/Head of Personal Financial Services Kanchana Karunagama and HNB Senior Manager – Leasing Niluka Amarasinghe

Hatton National Bank PLC (HNB) and its fully owned subsidiary HNB Assurance PLC (HNBA), have announced the launch of ‘Lease Protector’, an exclusive new insurance cover where the bank will settle any outstanding lease payments of the lessee in the unfortunate event of their demise or total disability.

The cover will extend up-to a value of Rs. 10 million and will include liability for customers up-to the age of 70. Both HNB and HNBA have also structured the ‘Loan Protector’ cover to be as simple and easy to access as possible with minimal documentation.

Commenting on the exclusive tie-up, HNB Deputy General Manager – Retail and SME Banking Sanjay Wijemanne said: “With all of the major disruptions that we have witnessed in these constrained market conditions, the underlying need for affordable pathways to vehicle ownership remains quite strong. In such an environment, our goal is to provide as much support and value to customers as possible. This partnership advances both of these goals by providing customers with affordability and security in a single product.”

HNB General Insurance and its fully owned subsidiary HNB General Insurance Ltd. (HNBGI) Chief Executive Officer Prasantha Fernando said: “This tie-up is a unique business opportunity for both businesses and this would offer a significant long-term value creation to our stakeholders. ‘Lease Protector’ is another revolutionary solution developed in association with our Parent Company, HNB, enhancing Group synergies in order to address the ever evolving customer needs for protection in the financial services spectrum.”