Press Release

01 July 2009

Assurant Solutions Enters Prepaid Cash Card Market

Assurant Solutions, a global provider of specialised insurance and insurance-related products, has entered into the prepaid cash card market through a strategic relationship with White Eagle (Europe) Plc.

Assurant Solutions will be underwriting an insurance package including purchase protection, price protection and extended warranty cover which will be offered free of charge to holders of the recently released Freedom Eagle Cash Prepaid MasterCard® marketed by White Eagle and issued by Newcastle Building Society in the United Kingdom. The Freedom Eagle Cash Card is the UK’s first prepaid retail instant issue, full reloadable, embossed prepaid MasterCard® with chip & PIN security.

Purchase protection covers items purchased by the cardholder with their prepaid card against theft or accidental damage for 30 days from the date of purchase provided the items are not covered by any other insurance.

Price protection covers the price differential on purchases made by the cardholder in the UK with their prepaid card where they find the same item at a cheaper price at a retail store anywhere in the UK within 30 days of the date of purchase.

Finally, the extended warranty cover provides an additional 12 months’ mechanical breakdown coverage over and above the manufacturer's own warranty on any domestic electrical goods purchased in the UK on the prepaid card.

Drazen Jaksic, Assurant Solutions Managing Director UK & Ireland, says: “This is an exciting new development for our business in the UK. We believe that prepaid cash cards will prove to be increasingly popular as people seek to exert greater control over their finances. Adding these insurance covers to the Freedom Eagle Cash Card provides its cardholders with even greater value.”

Assurant Solutions specialises in creating, underwriting and administering niche insurance protection products that provide consumers with protection against life’s events that can cause financial hardship. The business works with financial institutions, intermediaries, brokers and high street and home shopping retailers to design, develop, underwrite, administer and market these niche insurance lines.

MEDIA CONTACT

Lesley Russell at Spotlight Communications
Tel: +44 (0)7815 778038
Email: lesley@spotlightcomms.co.uk

NOTES TO EDITORS

Assurant Solutions businesses develop, underwrite, market and administer specialty insurance, extended service contracts and other risk management solutions through collaborative relationships with leading financial institutions, retailers, automobile dealers, funeral homes, utilities and other entities. With operations in 25 locations, including executive offices in Atlanta, Ga., Assurant Solutions serves clients and their customers in 13 countries throughout North America, the Caribbean, Latin America, Europe and Asia.
Visit: www.assurantsolutions.com

Assurant Solutions is part of Assurant Inc., a premier provider of specialized insurance products and related services in North America and selected international markets/territories. Its four key businesses - Assurant Solutions, Assurant Specialty Property, Assurant Health and Assurant Employee Benefits - partner with clients who are leaders in their industries and who have built leadership positions in a number of specialty insurance market segments worldwide.

Assurant, a Fortune 500 company and a member of the S&P 500, is traded on the New York Stock Exchange under the symbol AIZ. Assurant has over $23 billion in assets and $8 billion in annual revenue. Visit: www.assurantsolutions.co.uk