BNP Paribas Leasing Solutions and Stopel Insurance announce partnership

BNP Paribas Leasing Solutions has entered into a new cooperation agreement with Stopel Insurance to provide customers with a bespoke insurance solution designed specifically for machinery and equipment financed or leased through the BNP Paribas unit.

Under the partnership, customers submitting a lease or financing application with BNP Paribas Leasing Solutions will have the option to take out a specially developed insurance policy from Stopel Insurance. The product has been built around real-world machine usage and includes coverage features not typically found in standard equipment policies, the companies said.

Key elements of the new insurance solution include a five-year replacement value scheme in the event of total loss, covering assets up to €500,000; up to seven years of coverage for inherent defects; and three years of “new for old” coverage with no deduction and no operating-hours restriction.

Executives from both firms said the collaboration aims to simplify the customer journey by combining financing and insurance into a more integrated offering.

“Through BNP Paribas Leasing Solutions, customers can count on attractive and appropriate financing for their machine. In collaboration with Stopel Insurance, we also offer a unique and sharply tailored insurance solution that optimally protects the machine,” said Rick Wolthuis, Business Development & Innovation Manager at BNP Paribas Leasing Solutions. “This combination provides overview, simplicity and security. It works well in practice and gives customers the clarity they want in advance.”

Henk Reuvekamp, Director of Stopel Insurance, said the partnership addresses long-standing needs in the leasing market. “The leasing practice requires clear coverage, short lines of communication and fast claims handling. With this collaboration, we bring this together in an integrated approach, specially designed for equipment and machinery,” he said.