According to local media reports, ING Insurance Bhd and Miroza Leather Sdn Bhd, have launched a new insurance policy for handbags in Malaysia.

Purchasers of the Giossardi safety handbag will be able to insure their handbag for free.

The policy offers RM50,000 ($13,336) for accidental death or permanent disablement; medical expenses claims of up to RM1,000 and RM300 cash for loss of documentation for a period of one year from date of purchase.

The handbag costs RM100 and above and the company plans to sell 5,000 pieces per month and are aimed at the low income sector who are said to be more at risk from robbery.