Ulster Bank has signed an agreement with Aviva Direct Ireland for the transfer of renewal rights for the Bank’s home and car insurance books to the insurer as part its phased exit from the Republic of Ireland.
Ulster Bank said that customers do not need to take any action and that it will communicate this change and what it means for them in written form.
“Today’s announcement of this transfer to Aviva Direct is one more step in our phased withdrawal from the Republic of Ireland and I am happy to inform our customers that they don’t need to do anything until their policy comes up for renewal,” said Ulster Bank chief executive Jane Howard.
This transfer will take effect on a rolling basis from the start of September.
Since customer policies are already underwritten by Aviva with Ulster Bank as the intermediary, there will be no change to the terms and conditions of customers’ existing policies until their renewal date, Ulster Bank explained.
“When a customer’s current insurance policy expires, Aviva Direct will automatically issue a renewal quote prior to the renewal date and outline the terms of renewal cover. At that point, customers can renew the policy or seek alternative cover with another provider, as they could have done previously,” it said.