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Zurich Financial Services Australia (Zurich) has signed an underwriting agreement with Elkington Bishop Molineaux Insurance Brokers (EBM).

Starting December 2023, the tie-up will see Zurich provide security for EBM’s brand RentCover Landlords Insurance (RentCover) in Australia.

Established in 1991, RentCover is claimed to have launched one of Australia’s earliest landlord insurance products.

The company currently caters to 165,000 Australian clients by collaborating with property managers and landlords.

Zurich will underwrite the entirety of RentCover’s product line, including long-term and short-term rental landlord insurance products.

Existing customers’ policies will be underwritten by Zurich at renewal and new customers’ policies will be underwritten from 1 December 2023.

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By GlobalData

RentCover will continue to handle the claims and distribution of its offerings.

This agreement builds on Zurich’s existing alliance with EBM. Since last year, Zurich has provided capacity for EBM’s CoverLink portfolio.

Zurich Australia and New Zealand head of general insurance Alex Morgan said: “We are excited to work alongside RentCover to deliver leading insurance products for the real estate industry.

“RentCover is a highly professional team and has a deep affinity with the residential property market. We share a commitment to providing customers with market-leading protection and best in class service.”

RentCover managing director Sharon Fox-Slater said: “We recognise Zurich as a business that goes above and beyond to protect the people who put their trust in them. We do the same. We look forward to working with Zurich to shape a future in which our businesses, our clients and our people thrive.”

Last month, Zurich, through Zurich Resilience Solutions, teamed up with KPMG Switzerland to provide advisory services focused on climate change.