Cooperation with PZU SA and PZU Życie SA

The collaboration of BIG Bank GDAŃSKI S.A. with Powszechny Zakład Ubezpieczeń S.A. [Insurance Company] and Powszechny Zakład Ubezpieczeń na Życie S.A. [Life Insurance Company] is based on three-year agreements entered into on 2 August this year concerning collaboration as regards insurance coverage for Bank clients.
The agreements are a beginning of the implementation of collaboration plans provided for in the PZU S.A. Privatisation Agreement between BIG Bank GDAŃSKI S.A. on one side and PZU S.A. and PZU Życie S.A. on the other side, as regards the extension of the offer of those companies to include cross selling of products and financial services of each another (bancassurance).  They are also an important element of the implementation of the new strategy of BIG Bank GDAŃSKI S.A. based on a new market segmentation and assuming the offering by the Bank of universal financial services based on specialized innovative distribution channels.
BIG Bank GDAŃSKI S.A. and PZU S.A. with  PZU Życie S.A. anticipate the possibility of extending their collaboration in bancassurance services to include new banking and insurance products and services.  The Parties cooperating as regards card product insurance and want to broaden such cooperation.
 
Agreements between BIG Bank GDAŃSKI S.A. on one side and PZU S.A. and PZU Życie S.A. on the other side define the principles of insurance coverage in the following products available to Bank clients:

• MillePodróż - travel accident policies and luggage loss policies.  The coverage includes death in an accident, permanent damage to health in an accident, costs of artificial limbs, costs of retraining, medical treatment costs, full or partial inability to enjoy a tourist event due to an accident, loss, destruction of or damage to luggage.
• MilleWypłata - casualty insurance with proceeds paid out in instalments.  Part of the sum insured is paid out immediately after an accident, whereas the rest is paid out at the rate chosen by the client every month for the following five years.  The insurance covers death in an accident and a permanent damage to health exceeding 50% in an accident.
• MilleDom - an insurance package to insure a real property credited by BIG Bank GDAŃSKI.  The package includes:
• insurance of buildings and apartments for borrowers who have taken a housing loan from the Bank.  It is an obligatory security insurance entered into for the time of loan repayment in order to secure the loan repayment.  The sum insured depends on the value of the insured building appraised by an surveyor.  The premium is payable in monthly instalments.  Claims are paid out as a lump sum within approximately 30 days of the damage;
• a collective policy covering apartments for borrowers who have taken a housing loan from the Bank.  It is a voluntary protective insurance entered into for the time of loan repayment and covers the following events: burglary and robbery, natural disasters, loss of insured property as a result of an act of god, civil liability for damage inflicted within the boundaries of a real property.  The sum insured set by PZU S.A. in consultation with the Bank is fixed.  Premium is payable on a monthly basis;
• life insurance of borrowers, it is an obligatory life insurance to additionally secure loan repayment.  Proceeds are paid out in the case of death or incapacity to work of the insured borrower.  A premium depends on loan principal, the insured person's age and risk assessment results.  An insurance contract is entered into for the term of the loan agreement.
• Mille Pogodna Jesień - pension insurance which is a convenient form of providing for the family in case of the death of the insured person or an additional form of a pension.  Proceeds paid out as a result of the death of the insured person includes the payment of the sum insured which represents the value of contributions account and an additional amount of 10% of the value of the account (however, no more than 10,000 zlotys).  In the case of a pension, the client is paid out the accumulated contributions.  It is possible to buy out insurance proceeds earlier.
• Biznes Manager - group life insurance as a protective measure.  It is a policy against death or permanent incapacity to work intended for natural persons having their own business and other persons designated by them.  The objective is to provide extra protection for the owner and his staff.  An insurance contract is entered into for one year and can be extended for subsequent one-year periods.
• Ubezpieczenie Biznes - property insurance for small enterprises.  It is a full coverage policy addressed to companies and individual businesses with annual sales not exceeding 10 million zlotys.  The annual premium is calculated based on the sum insured for different groups of assets based on set tariff rates.

Insurance products are available to all holders of accounts maintained by BIG Bank GDAŃSKI.  As of 6 August, clients may handle all insurance formalities at selected BIG Bank GDAŃSKI and Millennium branches, and by the end of the year, at any customer service point in the BIG Bank GDAŃSKI S.A network.