Zurich North America Commercial announces “REsolutionTM” - single integrated insurance solution for commercial real estate investors
Michael Halvey named head of new real estate practice
Schaumburg, Ill., February 16, 2009 – Zurich, a leading property and casualty insurance provider in North America and globally, announced today the creation of a new real estate practice that will focus on the risk management needs of commercial real estate owners and managers in North America. Zurich will offer new bundled insurance protection that will cover property, casualty and specialty risks, greatly reducing the risk of coverage gaps or the expense of overlapping coverages.
“Our new practice area will offer broad coverage through a dedicated team of underwriting, servicing, risk engineers and claims professionals who know the commercial real estate industry,” said John Parker, Zurich North America Commercial's chief marketing officer. “Producers will have a single point of contact for all their needs, which means fast turnaround on quotes, timely and accurate service, and prompt claims handling. Our North America team will be an important part of Zurich's global commitment to the real estate industry.”
REsolution – Zurich's new approach in the real estate practice benefits customers by offering a simplified program that provides cost savings and a streamlined process. Zurich will have significant capacity to write full real estate portfolios. In addition to full property, casualty and specialty protection, Zurich's real estate offering will be customizable with more than 36 additional coverages, including construction/wrap up, director & officers, employment practices liability, errors & omissions, workers' comp, A/B form umbrella, a green building endorsement with broad coverage and competitive limits, and Z-Choice, a customizable environmental liability insurance product. By insuring full real estate portfolios, customers will better secure seamless coverage. This approach will allow Zurich to extend coverage to more challenging properties when they are included in a balanced portfolio.
Leading the real estate group is Michael Halvey, who will focus on growing Zurich’s business with mid-size real estate investors and owners. Halvey joined Zurich from Fireman’s Fund (a subsidiary of Allianz), where he most recently held the post of vice president, Commercial Real Estate and Program Business. His responsibilities included employing a focused segmentation strategy to develop differentiated products and services for the Real Estate market. He brings a wealth of knowledge about the commercial insurance market beyond the real estate business, including underwriting, product development, emerging industries, claims, finance and actuarial experience.
The real estate practice group will be part of Zurich’s Commercial Markets business unit, based in Schaumburg, Illinois. Halvey will report to David Rutkowski, head of Middle Market Commercial.
About Zurich Financial Services
Zurich Financial Services Group (Zurich) is an insurance-based financial services provider with a global network of subsidiaries and offices in North America and Europe as well as in Asia Pacific, Latin America and other markets. Founded in 1872, the Group is headquartered in Zurich, Switzerland. It employs approximately 60,000 people serving customers in more than 170 countries. In North America, Zurich (www.zurichna.com) is a leading commercial property-casualty insurance provider serving the global corporate, large corporate, middle market, specialties and programs sectors.
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Media contact:
David Bishop
Zurich
(847) 605-8826
david.bishop@zurichna.com