News Room

May 7, 2007

New Entrant to Irish Insurance Market Offers More Choice to Consumers

DUBLIN: Assurant Solutions, a specialist in creating, underwriting and administering niche insurance protection products, today announced its entrance into the Irish Insurance market.  The expansion of Assurant Solutions into Ireland marks an important step for the organisation’s long-term strategy of developing and underwriting niche insurance products in global markets.

Assurant Solutions is entering the insurance market with a flexible range of payment protection products, including mortgage payment protection (MPPI), income protection and loan protection. 

Teaming up with Assurant Solutions will allow intermediaries to unbundle the “one-size-fits-all” product that currently dominates the marketplace.  Clients will be able to offer their customers full accident, sickness and involuntary unemployment cover or stand-alone accident and sickness cover or involuntary unemployment cover only, providing benefits for 3, 6, 12 or 24 months.   Hospitalisation and life cover also can be included as additional benefits.

Speaking at the launch, Ian Moffatt, managing director, Assurant Solutions, UK and Ireland, said, “This is an exciting time for our company. We have a reputation for taking a fresh approach to PPI, creating products that meet our clients’ requirements and put the consumers’ interests at the heart of the product design process.”

“We are part of a global organisation headquartered in the United States, Assurant, Inc., that pioneered the introduction of creditor insurance in the 1930s and 1940s.  We have been established in the UK since 1972.  In addition to Ireland and the UK, we have operations in Denmark, Germany, Italy and Spain, as well as Canada, the Caribbean and Latin America,” he continued.

Robert McCarthy, business development manager for Assurant Solutions in Ireland, added, “We are looking forward to partnering with financial institutions and other clients in Ireland to develop and tailor our products to meet their customers’ individual needs. For consumers to get real value from their cover purchases, it is vital that they have a choice.”

Assurant Solutions’ operations in Ireland will be supported by service centre in Cork operated by an affiliate, Assurant Services Ireland Ltd.  Established in 1999 as a claim processing centre for U.S. operations, the centre currently employs about 50. 

Assurant Solutions specialises in creating insurance products including mortgage and loan payment protection, income protection, personal accident, personal property protection (warranty and product replacement), and credit card price and purchase protection.  The business works with financial institutions, intermediaries, brokers and high street and home shopping retailers to design, develop, underwrite, administer and market these niche insurance lines.

Media Contacts

Ben Valdimarsson, Bracken PR
Tel: 01 677 3277 Mob: 086 173 5123

Edel Flynn, Bracken PR
Tel: 01 677 3277 Mob: 087 784 3746

James Sykes, Assurant Solutions (U.S.)
Tel: 770.763.1015
Email: james.sykes@assurant.com

Assurant Solutions

Assurant Solutions is part of Assurant, a premier provider of specialised insurance products and related services in North America and selected other markets.  Assurant is traded on the New York Stock Exchange under the symbol AIZ and has approximately $US20 billion in assets and $US7 billion in annual revenue.

Assurant Solutions businesses develop, underwrite and market niche insurance, extended service contracts and other risk management solutions in collaborative relationships with leading financial institutions, retailers, and automobile dealers, utilities and other entities. 

Principal lines of business include debt protection administration, credit insurance, warranties and extended service contracts on appliances, consumer electronics, automobiles, recreational vehicles and boats.  They serve clients and their customers throughout North America, the Caribbean and selected countries in South America and Europe, including the United Kingdom, Denmark, Germany, Italy, Ireland and Spain. Visit www.assurantsolutions.ie

Assurant Services Ireland Limited

Assurant Services Ireland Limited is an Assurant Solutions company, which has been based in Cork since 1999.  The company delivers operations support services to other Assurant Solutions companies, including life, disability and involuntary unemployment claims assistance for creditor insurance and debt protection programmes.