Chubb

100 Leadenhall Street London, EC3A 3BP
+44 (0)20 7173 7000
http://new.chubb.com/
  • About Chubb

    ACE has acquired Chubb, creating a global insurance leader operating under the renowned Chubb name. Chubb is the world’s largest publicly traded property and casualty insurer, with operations in 54 countries, exceptional financial strength, and a broad range of personal and commercial insurance products.

    At Chubb, we’re committed to providing the very best insurance coverage and service to individuals and families, and businesses of all sizes. While we may look different, rest assured that all current ACE and Chubb policies remain in place.

Chubb enhances financial lines insurance covers in the UK and Ireland

Chubb-Financial-Lines-Insurance

Chubb has announced that it has enhanced two of its key financial lines wordings in the UK and Ireland, as the company continues to invest in this risk area where it is a global leader.

Elite D&O is designed to cover the risks faced by executives serving in both private and listed middle market companies, large corporates and multinationals across the UK, Ireland and beyond. The new wording has been developed in response to feedback from Chubb’s broker panel, and now includes over 30 extensions of cover as standard. These include:  

  • Extended definition of investigation
  • Broadened pre-investigation costs extension
  • Preservation of Side A limit
  • Insuring clause for subpoena costs
  • M&A claims and regulatory crisis costs extension
  • Insolvency hearing cover

Elite Commercial Crime provides cover to businesses of all sizes, as well as to their clients if the business is liable for their assets, securities or property, in the UK and Ireland that suffer financial loss due to criminal or fraudulent activity by an employee or third party. The new wording provides access to a 24/7 incident response hotline. Other key benefits include: 

  • Policy limit for property/cyber extortion financial loss
  • Recovery costs for incident response
  • Affirmative social engineering cover
  • Protection for third parties with an insurable interest
  • Expenses limit in addition to main policy limit
  • Defence costs to defend legal liability for loss of client money, securities or property

Grant Cairns, Financial Lines Manager for Chubb in the UK and Ireland, said:

“Our enhanced financial lines wordings provide what is arguably one of the most comprehensive D&O and financial crime covers in the UK market, with new extensions and added-value services that set Chubb apart from competition. We are a global leader in financial lines but we do not stand still. Today’s launch underlines our commitment to continue working with our brokers and partners to ensure that our offering is fit for purpose and responds to their rapidly evolving needs.”

 

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