Zurich North America now not will supply property and casualty insurance coverage to impartial dealerships and a few franchise dealerships, a spokeswoman instructed Automotive Information on Friday.
“We’re reshaping our auto supplier P&C portfolio to proactively tackle persistent underperformance because of the continued volatility related to giant and catastrophic hail losses, mixed with general profitability outcomes,” she stated.
Zurich will proceed to supply property and casualty insurance coverage to “mega supplier” prospects nationwide and to lots of its franchise dealership shoppers.
It additionally will proceed to supply finance and insurance coverage merchandise to dealerships nationwide.
Certainly, the corporate plans to considerably develop its F&I enterprise in 2018, the spokeswoman stated.
“This transfer under no circumstances diminishes Zurich’s dedication to offering services and products to the P&C automotive business in addition to the F&I market,” the spokeswoman stated. “In reality, Zurich stays one of many largest insurance coverage and automobile service contract suppliers for U.S. franchise auto sellers.”