Insurer to provide home cover for building society customers.
Under its contract with Bradford & Bingley, Zurich is part of a panel of insurers which underwites the bank's home policies. Zurich also provides policyholders with claims handling services.
The sales and service of home insurance policies is carried out by Bradford & Bingley.
In addition to offering home insurance to domestic households the specialist buy-to-let lender offers buy-to-let insurance to landlords also underwritten by Zurich.
Bradford & Bingley’s buy-to-let insurance offers buildings and contents insurance to landlords as well as loss of rent up to £15,000 when the property cannot be lived in.
Dave Foyle, head of insurance for Bradford & Bingley, said: “We are pleased to extend our long-standing home insurance relationship with Zurich. The first-class customer service Zurich provides is a key reason for the success of our continued partnership.”
The extension of the contract means that the two companies will have now been in a commercial relationship spanning over 60 years.
Bradford & Bingley offers a range of insurance products, including motor, travel and life. The building society, which specialises in buy-to-let mortgages, has been hard hit by the current economic downturn. It has planned a £400m rights issue in a bid to boost its balance sheet.
Zurich recently exited the bidding for the Royal Bank of Scotland’s insurance division, which includes Direct Line, NIG and Churchill. American insurer Allstate is believed to have tabled a bid for the brands this week.