New underwriter for Protecta
Protecta Insurance NZ Ltd has appointed Virginia Surety Company (VSC), a wholly owned subsidiary of Assurant, as its new underwriter.
The arrangement, which takes effect on September 1, will enable Protecta to further grow its business, achieve its short and long-term goals, and will be a benefit to customers and policy holders.
“VSC will provide a great alignment of direction for Protecta and will increase our focus on delivering knowledge, experience, innovation and adding value to the New Zealand market, our customers and our 130,000-plus policy holders,” says Stephen Glading, managing director of Protecta, pictured above.
Protecta has been providing Insurance products to motor vehicle dealers, financiers, brokers and consumers in New Zealand for more than 30 years, and has been experiencing considerable growth in the past few years.
VSC, which is an Assurant company, is one of the largest underwriters of insured service plans and warranty products in the world. It is a New Zealand bonded insurer and underwriter with its head office in this country in Christchurch.
Protecta is working towards a seamless transition to VSC. Its sales team will visit all of its agents before September 1 “to discuss this positive change”.
About Virginia Surety Company
VSC is incorporated in Illinois and is registered as an overseas company in this country. It has an AM Best Company financial strength rating of A, which is “excellent”.
Founded in 1927, VSC is the principal property and casualty insurance company in the US and is now an Assurant Company. VSC and its affiliates are one of the largest underwriters of insured service plans and warranty products globally.
About Assurant
Assurant is a global provider of risk-management solutions, protecting where consumers live and the goods they buy.
A Fortune 500 company, it focuses on the housing and lifestyle markets. It is among the market leaders in mobile-device protection and related services, extended service contracts, vehicle protection, pre-funded funeral insurance, renters insurance, lender-placed homeowners insurance, and mortgage valuation and field services.
Assurant has a presence in 21 countries, while the Assurant Foundation works to support and improve communities. It has 16,000 global employees.
With more than 50 years’ automotive experience, Assurant protects more than 40 million vehicles worldwide. It’s a specialist in finance and insurance
