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Zurich announces new RentCover underwriting agreement


23 October 2023

Zurich Financial Services Australia (Zurich) has announced a new agency agreement with Elkington Bishop Molineaux Insurance Brokers (EBM) to provide security for its brand RentCover Landlords Insurance (RentCover) in Australia from 1 December 2023.

RentCover was founded in 1991 and created one of Australia’s first landlord insurance policies. Today, the business works with landlords and property professionals to protect approximately 165,000 Australian customers.

Through this agreement, Zurich will underwrite RentCover’s full product range, which includes landlord insurance policies for long and short-term rentals.

Alex Morgan, Head of General Insurance, Zurich Australia & New Zealand said: “We are excited to work alongside RentCover to deliver leading insurance products for the real estate industry.”

“RentCover is a highly professional team and has a deep affinity with the residential property market. We share a commitment to providing customers with market leading protection and best in class service,” Mr Morgan said.

Sharon Fox-Slater, Managing Director, RentCover said: “We recognise Zurich as a business that goes above and beyond to protect the people who put their trust in them. We do the same. We look forward to working with Zurich to shape a future in which our businesses, our clients and our people thrive.”

This agreement expands upon Zurich’s existing relationship with EBM, which has seen it provide capacity for EBM's CoverLink portfolio since 2022.

Existing RentCover policyholders will have their policy underwritten by Zurich at renewal, with new customers underwritten by Zurich from 1 December 2023. RentCover will continue to distribute its own products and handle all claims.


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Zurich Financial Services Australia is a life insurance, commercial insurance and investments specialist that has been participating in the Australian market since 1920. Since its acquisition of OnePath Life from ANZ in 2019, the company provides life insurance to more than 1.5 million Australian customers under both the Zurich and OnePath Life brands.  Further information about Zurich Financial Services Australia is available at www.zurich.com.au.
 

Zurich Insurance Group (Zurich) is a leading multi-line insurer serving people and businesses in more than 200 countries and territories. Founded 150 years ago, Zurich is transforming insurance. In addition to providing insurance protection, Zurich is increasingly offering prevention services such as those that promote wellbeing and enhance climate resilience.

Reflecting its purpose to ‘create a brighter future together’, Zurich aspires to be one of the most responsible and impactful businesses in the world. It is targeting net-zero emissions by 2050 and has the highest-possible ESG rating from MSCI. In 2020, Zurich launched the Zurich Forest project to support reforestation and biodiversity restoration in Brazil.

The Group has about 60,000 employees and is headquartered in Zurich, Switzerland. Zurich Insurance Group Ltd (ZURN), is listed on the SIX Swiss Exchange and has a level I American Depositary Receipt (ZURVY) program, which is traded over-the-counter on OTCQX. Further information is available at www.zurich.com.

EBM RentCover was founded in 1991 and created one of Australia’s first landlord insurance policies. Today, the business works with more than 1,900 professional property businesses and protects approximately 165,000 Australian rental properties. In 2022, EBM RentCover paid out more than 6,440 claims worth more than $39 million and won the 2022 Mansfield Award (specialty category) for claims excellence.