Cardif Pinnacle is a name that may not be immediately recognised in the UK market. It takes its name from the Pinnacle Insurance Company Ltd, which was formed in the UK in 1971, but which has since been acquired by the French global banking group BNP Paribas.
BNP Paribas is one of the world's largest international banking networks, employing more than 175,000 people in some 80 different countries.
Whilst the name may be less well known in Britain, the company claims partnerships with more than 200 major banks, insurance companies, building societies and financial intermediaries in the UK, where it employs more than 580 staff.
In addition to its acquisition of Pinnacle Insurance, BNP Paribas also acquired a majority stake holding in another British insurer, Warranty Direct in 2008 and acquired the remaining shares in 2013.
Warranty Direct has been formed in 1997, initially to sell extended warranties for motor cars - especially those which were being sold second hand or through private sales. By 1999, the company had also extended into extended warranties for household appliances.
These and other insurance policies are now mainly underwritten by Cardif Pinnacle. As a result of its various acquisitions in the British insurance market, the BNP subsidiary Cardif Pinnacle now offers a range of general insurance products, including:
- appliance warranty;
- car value protector;
- gadget insurance;
- pet insurance;
- sports injury insurance;
- mortgage payment protection;
- income protection;
- life insurance; and
Cardif Pinnacle's headquarters are in Borehamwood, Hertfordshire.
When it comes to insurance protection, owners of let property are likely to be interested chiefly in landlord insurance.
Unlike conventional home insurance policies, which tend to be primarily focussed on cover for the structure and fabric of the building and the owner's contents, landlord insurance does this and somewhat more.
In addition to safeguarding the let premises and contents, for example, landlord insurance might also typically offer - as standard items of cover or as optional additions - some or all of the following:
- property owner's (including landlord's) liability cover - typically beginning at up to £1 million;
- employer's liability cover - typically as an extra, with a minimum of £5 million;
- provision for loss of rental income in the event of an insured incident; and
- possibly, accidental or malicious damage caused by the tenants themselves.
Cardif Pinnacle landlord insurance
Cardif Pinnacle does not appear to offer any form of landlord insurance cover, whether for the premises, contents, or the protection of the lettings business.
Of the products offered by this company, it is possible that extended warranties on appliances and other household equipment may be useful for any such items installed by the landlord in his or her let property. It is important to keep in mind that any such policies are of course no replacement or alternative for landlord insurance.