Commercial Union Poland group has extended its bancassurance collaboration with its strategic partner, Bank Zachodni WBK (BZ WBK), by introducing, in May this year, a new insurance scheme for clients taking mortgages from the bank.
Commercial Union Poland group has extended its bancassurance collaboration with its strategic partner, Bank Zachodni WBK (BZ WBK), by introducing, in May this year, a new insurance scheme for clients taking mortgages from the bank. This product protects clients, during the payment term of the mortgage, from unforeseen circumstances affecting their ability to pay instalments or the whole mortgage.
Within this scheme, a BZ WBK mortgage client can add one of three optional packages:
- Basic - covering loss of job and ability to work
- Premium - covering the risk of job loss, loss of ability to work, death and serious illness
- VIP - covering the risk of job loss, loss of ability to work, death, permanent total inability to work and serious illness.
The risks of job loss and loss of ability to work are insured by Commercial Union Poland general insurance company. Risks such as: death, permanent total inability to work and serious illness are insured by Commercial Union Poland life insurance company.
"This is a model solution used by our group in collaboration with BZ WBK. Together we issue and service life insurance, personal and property insurance packages, which is very convenient for the bank and its clients. A similar model has proved itself in the insurance of cash loans," says Marek Piętka, bancassurance director at Commercial Union Poland.
This product is significant not only for the bank, but above all for our customers. Everybody needs financial security during long-term obligations - particularly in unforeseen uncontrollable circumstances, such as illnesses or loss of job. This new offer meets these requirements for BZ WBK customers - summarised Paweł Zawisza, director of bancassurance office at BZ WBK.
Since February 2006 BZ WBK, in collaboration with the CU group, has offered a similar insurance package for cash loans. Bank customers can also insure their house or apartment using Locum BZ WBK insurance also prepared in collaboration with Commercial Union.
A significant part of the collaboration with BZ WBK is the insurance of credit card payments offered under the name Twoje Bezpieczeństwo (Your Security). It provides protection in the event of loss of job or ability to work, and also accidental death.
Bank Zachodni WBK, one of the largest universal banks in Poland, is a member of Allied Irish Bank group.
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Information:
Bohdan Bialorucki
Telephone: +48 22 557 43 41
E-mail: bohdan_bialorucki@cu.com.pl
For further information, see http://www.cu.pl/
Notes to editors:
Commercial Union Poland group is part of the international Aviva group - the world's fifth largest insurance, savings and investments group, and the largest in the United Kingdom by revenues. Aviva group operates in 25 countries. It occupies a strong position in the European Union, including United Kingdom, Ireland, France, the Netherlands, Spain, Italy and Poland. It also conducts large scale activities in the USA, Canada, Australia and Asia. It services approx 40 million customers and manages assets valued at over £364 billion. For additional information, see the website /