Article date: 26 August 2004
Norwich Union has been chosen by The Co-operative Bank to be itsexclusive provider of payment protection insurance on all loan andcredit card products.
The UK’s largest insurer has been providing paymentprotection insurance on Co-operative Bank loans since the mid 1980sbut this renewed four-year deal also includes cover on Co-operativeBank credit cards.
In addition, Norwich Union has been appointed as the exclusiveprovider of Privilege travel insurance for the Co-operativeBank’s Privilege Current Account customers.
David McMillan, partnerships director at Norwich Union, said:"This is great news for both companies and marks a strengthening ofa relationship which began 20 years ago when Norwich Union firstprovided payment protection insurance on loans for Co-operativeBank customers.
"Norwich Union is the largest provider of general insurancethrough corporate partnerships in the UK and this latest deal witha highly-respected bank cements this market-leading position."
Peter Sutcliffe, executive director, retail banking businessmanagement at The Co-operative Bank, added: "We undertook a veryrobust tender programme over a nine-month period. Norwich Unionwere able to meet all our criteria to provide the bank and itscustomers with first class products and service."
Jenny Chapman at Norwich Union on 01603 682264 or 07775 822642, orCarolyn Hicks at the Co-operative Bank on 0161 829 4252.
Notes to editors:
- Norwich Union is the UK's largest insurer with a market shareof around 14 per cent. With a focus on insurance for individualsand small businesses, Norwich Union insures:
- one in five households
- one in seven motor vehicles
- more than 800,000 businesses
- Norwich Union’s news releases and a selection of imagesare available on the Aviva internet press centre atwww.aviva.com/media
- An ISDN facility is available for studio quality broadcast -call the press office on 01603 683820