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Zurich Acquires Unum AD&D Block

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A property-casualty insurer has acquired renewal rights to a block of accidental death and dismemberment coverage written by a U.S. employee benefits company.

A Schaumburg, Ill., unit of Zurich Financial Services, Zurich, has obtained the rights from Unum Group Corp., Chattanooga, Tenn., Zurich says.

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Starting today, Zurich will offer replacement coverage to Unum group AD&D insurance customers covered by the agreement, Zurich says.

“The replacement coverage will retain the same terms and conditions as the coverage currently provided by Unum and will be offered at the same rate, when possible,” Zurich says.