Order of Texas-dependent Unique Insurance policies Providers, Inc., expands Zurich’s capability to provide increasing market place for hole health-related and occupational incident items.
SCHAUMBURG, Unwell., Jan. 4, 2022 /PRNewswire/ — Zurich American Coverage Corporation (“ZAIC”), a subsidiary of Zurich Insurance coverage Team (Zurich), declared today that it has completed the acquisition of Exclusive Insurance plan Companies, Inc. (“SIS”), a Texas-based program supervisor that develops, underwrites, distributes and administers specialty insurance coverage items for modest and midsize businesses. SIS, whose choices contain gap medical and occupational accident insurance coverage, generates close to $55 million in annual gross prepared high quality and counts more than 5,000 employers as customers.
As medical expenditures continue on to increase and businesses change to significant-deductible plans, supplemental wellbeing insurance plan merchandise can help staff deal with deductibles and co-pays, shielding them from unpredicted out-of-pocket expenditures. The acquisition of SIS expands ZAIC’s ability to provide supplemental wellbeing insurance plan goods and solutions, specifically gap health care, that are significantly section of employer gain packages.
“SIS has been offering supplemental health products and solutions and products and services for above 34 yrs and deeply understands the wants of businesses and workers in this growing marketplace phase,” said David Fike, Head of Everyday living, Incident and Overall health (LA&H) at Zurich North America. “By way of this acquisition, we now have the means to underwrite and support less than the similar roof. As we labored with SIS to finalize the acquisition, we received an even larger appreciation of SIS’ knowledge and their skill to deliver personalized solutions to Zurich customers. These days, we welcome them to Zurich and are happy to contact them colleagues.”
The SIS work power, numbering approximately 70 workers in Texas, now is element of the LA&H business enterprise device inside of Zurich North America and will go on to serve customers through the SIS manufacturer.
“Zurich’s Daily life, Accident and Overall health and Human Means teams labored carefully with us to ensure a sleek transition, which gave us a good deal of self confidence and excitement about the street ahead,” reported SIS Head of Distribution Philip Rearick. “Combining our strengths with Zurich’s is a good way to start off the new 12 months. Alongside one another we intend to supply very best-in-course solutions and products and services in the supplemental health and fitness place.”
“Money self-control has permitted our enterprises to identify and shift on market place options that deliver on our strategy and develop on our strengths,” claimed Kristof Terryn, CEO of Zurich North The united states. “This acquisition displays our determination to listen to what our customers have to have, to provide modern products and solutions and expert services, and to simplify our supply of these solutions. We continue on to prioritize investments in unique positions where by we can deliver exceptional price in the marketplace.”
ZAIC’s Accident and Health solutions for businesses and other teams include things like voluntary advantages, travel insurance plan and assistance, hole health care, health care cease-loss, occupational accident and college student incident insurance policies. The acquisition of SIS expands ZAIC’s ability to supply not only hole medical but also occupational incident and major employer indemnity insurance.
Zurich Insurance policy Team (Zurich) is a primary multi-line insurance company that serves its shoppers in worldwide and local markets. With about 55,000 workforce, it provides a huge vary of home, casualty and existence coverage solutions and products and services in more than 215 international locations and territories. Zurich’s prospects contain folks, smaller companies, and mid-sized and massive businesses, as properly as multinational corporations. The Team is headquartered in Zurich, Switzerland, where it was established in 1872. The holding business, Zurich Coverage Team Ltd (ZURN), is shown on the 6 Swiss Trade and has a degree I American Depositary Receipt (ZURVY) software, which is traded in excess of-the-counter on OTCQX. Even more details about Zurich is available at www.zurich.com.
In North The us, Zurich is a single of the largest providers of insurance coverage options and solutions to businesses and men and women. Prospects are served as a result of the person member firms of Zurich, which includes Zurich American Insurance plan Organization. Daily life insurance policy and disability protection issued in the United States in all states besides New York is issued by Zurich American Daily life Insurance coverage Enterprise, an Illinois domestic life insurance policy enterprise. In New York, life insurance and disability coverage is issued by Zurich American Lifetime Insurance Corporation of New York, a New York domestic lifetime coverage organization. For additional facts about the products and services Zurich features and the folks Zurich employs in the U.S. and Canada, make sure you pay a visit to www.zurichna.com.
This is meant as a common description of particular forms of insurance policy out there to qualified shoppers in relevant states, provided only for informational functions. Insurance coverage coverages are offered by Zurich American Insurance Corporation, a New York domiciled enterprise with its principal place of business at 1299 Zurich Way, Schaumburg, IL 60196 (NAIC #16535). The conditions and situations of policies described in this quick summary are ruled by the particular person policy document that consists of the entire conditions. In the function of any discrepancy in between the facts in this transient summary and the plan, the plan document shall govern.
Certain statements in this news release are ahead-on the lookout statements, which includes, but not constrained to, statements that are predictions of or indicate long run activities, developments, designs, developments or objectives. Undue reliance must not be positioned on these statements mainly because, by their nature, they are issue to known and unfamiliar pitfalls and uncertainties and can be afflicted by other variables that could result in real results, developments, strategies and objectives to vary materially from people expressed or implied in the forward-hunting statements. The topic matter of this info is not tied to any certain coverage merchandise nor will adopting these policies and processes ensure protection beneath any insurance policy.
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