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• Product range includes insurance for cars, homes, yachts and art & valuables collections
• New proposition offers broadest levels of cover in the market
• Products mark Zurich’s entry into the Middle East’s high net worth insurance market
Zurich, one of the world’s leading insurance groups, today announced the launch of a range of bespoke insurance products built specifically for high net worth individuals. The products are designed to meet the unique needs of this niche group of customers, and are aimed at insuring the assets that they value most, including their cars, homes, yachts and art & valuables collections.
To service the needs of its high net worth customers, Zurich has established a specialist team of highly skilled and experienced underwriters, valuers and relationship managers. Policies are developed following a consultation with the client, to deliver a level of cover that is truly tailored to the customer’s specific requirements – no matter how complex. Customers also benefit from a dedicated claims manager who is available 24/7, ensuring help is on hand should the need arise.
Maroun Mourad, CEO of Zurich’s General Insurance business in the Middle East said: “We have brought a private banking approach to personal insurance by developing a portfolio of bespoke solutions tailored to the unique needs of high net worth individuals in the Middle East.”
Car enthusiasts can benefit from Zurich’s new all-embracing motor insurance product. The product covers standard vehicles through to luxury or classic cars and even personal fleets. The product includes two year new car replacement, repairs that are always carried out by the main dealer regardless of the car’s age and an executive courtesy car service in the event the customer’s vehicle is out of action.
Zurich’s home insurance for high net worth individuals includes a number of unique features as standard, such as cover for the cost of rebuilding a property exactly as it was, even if it costs more than the policy limit. The product also includes a complimentary Home Appraisal Service, which catalogues high value items in the home which not only saves time and expense for the customer, but also confirms the rebuilding figure of the building. Risk management advice is also offered to minimise the chance of a loss occurring.
With many collectors of fine and decorative arts, period furniture and jewellery in the Middle East, Zurich has developed a specialised product to protect people’s most precious possessions. The policy comes with a number of impressive features such as complimentary cataloguing and valuation by Zurich’s in-house experts, cover for up to 150 per cent of the value of an object, taking market appreciation into account and, understanding that family heirlooms cannot be replaced, the option of cash in the event an object is lost or destroyed.
Zurich’s comprehensive yacht insurance covers small pleasure craft through to million dollar yachts. The cover includes a complimentary appraisal of the vessel by an expert surveyor, a no claims discount and a free inspection following a grounding, even if there is no obvious damage.
Jeremy Baggott, Head of Zurich Private Clients in the Middle East said: “Our specialist team has over 20 years’ experience writing insurance for high net worth individuals, so we recognise the importance of delivering exemplary service with ultimate discretion. We take the time to understand the client so we can tailor the product to their specific requirements and ensure that their most valuable assets are protected.”
The launch of the four new products marks Zurich’s entry into the Middle East’s high net worth insurance market. Products are available through brokers or directly from Zurich.
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