Zurich to leave Home Insurance panel

Zurich have announced they plan to withdraw from regional personal lines and national broker personal lines, such as home and motor insurance.

Therefore, Zurich will be leaving Paymentshield’s Home Insurance panel and will no longer be offering quotes for renewals from Monday 27 November 2023 and new business quotes from Thursday 28 December 2023.

Zurich have explained their decision in the following statement.

“We have decided to focus our skills and expertise in areas where we feel we can add true value and where we can make a difference to our customers. We are narrowing our focus, which will enable us to deliver our capabilities and expertise through our Zurich Private Clients high-net-worth proposition and to further develop our MGA and Partnership relationships, which remain an important part of our business strategy.”

Our Adviser Hub has been alerting users selecting Zurich quotes of the deadline for submissions but here's a quick a reminder of the dates you need to be aware of;

Final date for Zurich new business

After 28 December Paymentshield will no longer be offering any new business quotes with Zurich and all applications for policies underwritten by Zurich must also be submitted by this date.

This also means that policies should not be submitted with a future start date after
28 December.

Pipeline quotes will be valid until 28 December

Any quotes previously obtained with Zurich will be valid up to midnight on 28 December. Any Zurich quotes not submitted by this date will expire.

Once the quote has expired, if a client wants to proceed with their application, you'll need to to into Adviser Hub and click back into the quote. It'll show you the quote results screen and provide you with prices from the remaining panel members, you can choose an alternative quote for your customer without having to re-do the whole quote process.

Pending policies will be valid until 28 December

All pending policies will expire at midnight on 28 December if not submitted by this date. We recommend checking with any impacted clients in good time to see if they want to proceed with the policy.

Once the quote has expired, if a client wants to proceed with their application for a Paymentshield policy, you'll need to go into Adviser Hub and re-quote from the beginning.

Renewals from 27 November 2023 will be re-broked to another panel member

From 27 November, customers with an existing Zurich policy will be migrated to another insurer on the Paymentshield panel wherever possible.

Mid-term adjustments will continue as normal

Mid-term adjustments to current/live policies can be made as normal until the end of 2024.

Article last updated: 29/12/2023

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