The UK's Derbyshire Building Society has reportedly selected Royal & Sun Alliance to provide it with buildings, contents and creditor insurance policies for the next three years.
The affinity deal is expected to be worth around GBP30 million in gross written premium over the contracted term, Post Online reports. New business was launched on February 5, 2007, while the claims handling for the existing policies will transfer to Royal and Sun Alliance (R&SA) on April 1, 2007.
The policies are available separately or as a single combined policy. In addition, customers are offered a 35% discount off the bank’s new buildings and contents insurance, with free legal expenses cover for a year. Under the buildings cover, policy holders will automatically be insured up to GBP400,000 and contents covered up to GBP50,000.
Winning this business is a further endorsement of our household offering and is another important progression in the growth of our affinity business, Post Online quotes Julie Hopes, managing director of affinity at R&SA, as saying. This partnership demonstrates our commitment to working flexibly and providing suitable products to serve the needs and wants of our customers.