LONDON, June 12, 2017 /PRNewswire/ -- Chubb today announced that it will offer increased insurance capacity of up to US$150m/ €150m (previously US$100m/ €100m) for terrorism, political violence and war risks as it further builds its market-leading proposition in response to evolving threats and increased demand from multinational clients.
The new increased capacity will be available to brokers and their clients internationally and is designed to meet the needs of large, multinational businesses with growing global exposures.
Chubb has increased its terrorism and political violence capacity per account by 300% in the last two years. Since 2008 the company has steadily invested in building its terrorism and political violence insurance capabilities and provides brokers and clients with comprehensive cover for the full spectrum of perils. In addition to standalone cover, Chubb also offers an integrated proposition specifically designed to cover the gaps between traditional property and business interruption, terrorism and political violence insurance policies.
Piers Gregory, Terrorism and Political Violence Underwriting Manager, Overseas General Insurance at Chubb, said:
"The increase in capacity to US$150m demonstrates our commitment to responding to growing client demand for certainty and comprehensive cover across the full range of perils. As the needs of our clients become increasingly international, Chubb is one of the few insurers with the multinational capability to help them design the compliant global insurance programmes that they need in an ever more globalised operating environment."
Chubb is the world's largest publicly traded property and casualty insurance company. With operations in 54 countries, Chubb provides commercial and personal property and casualty insurance, personal accident and supplemental health insurance, reinsurance and life insurance to a diverse group of clients. As an underwriting company, we assess, assume and manage risk with insight and discipline. We service and pay our claims fairly and promptly. The company is also defined by its extensive product and service offerings, broad distribution capabilities, exceptional financial strength and local operations globally. Parent company Chubb Limited is listed on the New York Stock Exchange (NYSE: CB) and is a component of the S&P 500 index. Chubb maintains executive offices in Zurich, New York, London and other locations, and employs approximately 31,000 people worldwide. Additional information can be found at: chubb.com/uk