Zurich Insurance Company
Loyalty means nothing - left in the lurch

After being a loyal customer of Zurich and one of their local brokers, Border Insurance Brokers, for over 25 years, on a personal level and a company level, across some four or five different policies - Zurich just cancelled ONE of these after a brief period (about three years) on this particular policy where they didn't show a profit - it mattered not that the other policies were fine or that they showed a profit over the full 25 year period. Perhaps the /-R20m corporate loss Zurich SA showed in the first six months of 2013 in South Africa has got their actuaries running scared... Ok, we'll just start canceling policies then... well, I have dumped them completely and have, without much effort, found a far cheaper alternative with a well known Company.

I'll personally be very surprised if Zurich stay in SA, this certainly looks unlikely if their corporate performance trend continues. Tread cautiously guys, old fashioned loyalty to any supplier is generally one sided nowadays and the short-term insurance industry is a gamble for the consumer, one which we are destined to lose.

Company: Zurich Insurance Company
Country: South Africa
City: East London

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