Zurich now offers service contracts to powersports market
January 18, 2008
Filed under Features
Zurich, one of the world’s largest property-casualty insurance companies, announced its Direct Underwriters business unit, which provides specialized products and services for the automotive industry, is now making its vehicle service contracts available to the North America powersports market.
In describing these F&I products, Bill Stoothoff, vice president of the F&I division for Zurich’s Direct Underwriters business unit, said, “We have provided property and casualty insurance and other financial products to motorcycle dealers for more than 30 years. Our research shows there is a receptive market for F&I for powersports equipment as well. It is the next logical step to begin providing these products to this market.”
Stoothoff said feedback from Zurich’s annual motorcycle dealer council meeting played a key role in this new direction.
According to Stoothoff, along with vehicle service contracts for motorcycles (on- and off-road), ATVs and scooters, Zurich will offer reinsurance and retro programs for dealerships so they can supplement front-end income by sharing in underwriting profit and investment income.