High Excess Capacity
for Major Accounts
Chubb Bermuda
Chubb Bermuda offers a suite of excess
casualty, professional liability and property
products that provide broad coverage with
sizable capacity to meet the needs of large
corporate clients. We also write political
risk insurance through Sovereign Risk
Insurance Ltd. and segregated accounts and
captive management programs through
Paget Reinsurance Ltd.
Our business model focuses on Fortune
1000 companies and targets risk that are
generally low in frequency and high in
severity. We underwrite multiple industry
classes across all lines of business and
have 30 years of underwriting and claims
experience. We have the capacity, people
and balance sheet strength to meet our
clients’ needs.
Claims Management is a Core Strength
Chubb Bermuda strives to deliver the
highest level of claims service to our
clients. We take pride in demonstrating
our professionalism and expertise in
the management of all claims. Backed
by consistently high ratings and the
financial strength of a long-term partner,
we work diligently to pay all covered
claims promptly.
Our goal is to establish and maintain
strong working relationships with clients
and their representatives, to work
diligently with them to manage and
ideally minimize their losses, and to seek
creative solutions to resolve challenging
issues. Often the claims we manage
represent the first time a client has
encountered a loss of such magnitude,
and we strive to impart our experience
gained from 30 years of dealing with
catastrophic losses.
Expect More with Chubb
Chubb is one of only a handful
of companies in the world with the
products, service and global expertise
that, can fully serve the insurance needs
of sophisticated commercial clients.
When you choose Chubb, you get more
than an insurance policy. Our customized
solutions, excellent service, coordinated
global capabilities and an expert team of
industry professionals come together to
deliver outstanding results to our clients
and brokers. We focus on your needs and
work hard to get things done.
Chubb Bermuda Product Highlights
Key Products
Property
Excess Liability
1st Party All Risk Cover (Follow Form)
•
Bermuda Form (Occurrence First Reported)
provides catastrophe excess liability insurance
•
Follow Form Occurrence
•
Follow Form Claims Made
•
Manuscript form for each Insured
Capacity
•
Minimum Attachment
$50M Minimum Attachment
$650M Chubb Group Capacity
• $500M Minimum attachment for VCE
exposed occupancies
•
$150M
$100M (except $50m for Healthcare and $85m
for Utilities on AEGIS Follow Form)
$25M for low hazard Occupancies i.e. Hospitals
Industry Classes
Consider all classes except steel
(exception mini-mills) and off-shore property
Consider all classes of business
Additional Information
Critical CAT limits
Coverages provided for Integrated Occurrences
•
$50M Critical CAT
Other Critical Limits
Other Products
•
$10M Contingent Business Interruption
•
$5M Underground Property
Net Line Specialty Products:
•
Event Cancellation - $10M
•
Transmission and Distribution Lines - $10M
•
Liquidated Damages - $10M
•
AEGIS Follow Form for Utilities:
$150M limit/$85M attachment
•
Occurrence Follow Form: $100M limit
($50m for multi-aggregates)/$100M attachment
•
Healthcare: $150M Occurrence Reported /$100M
Follow Form Claims Made/$50M attachment
•
Punitive Damages Wrap (Chubb North American
policies only:
– Up to $50m in aggregated wrap cover (single or
ventilated layers)
– Wrap around policies that are both excess of
primary (lead) or higher excess layers
Why Chubb
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•
30 years of underwriting, engineering and
claims experience
•
Maximum group capacity $650M
•
Underwriting presence in London, Dublin,
Miami and Singapore
•
Large excess limits
•
Policies issued at inception
•
30 years of underwriting and claims experience
•
Affirmative punitive damages
•
Confidential dispute resolution
Financial Lines
Political Risk
Coverage underwritten by Sovereign Risk Insurance
Ltd. a subsidiary of Chubb Bermuda.
•
CODA/Side A
•
Expropriatory actions
•
D&O/Corporate Reimbursement
•
Currency inconvertibility/exchange transfer
•
Wage & Hour/EPL
•
Political violence
•
Sovereign and sub-sovereign non-payment
•
Non-repossession of aircraft or
mobile equipment
•
$75M CODA/Side A
•
$50M D&O/Corporate Reimbursement
•
$25M EPL
•
CODA/Side A attach anywhere, primary or excess
•
$100M D&O/Corporate Reimbursement
Alternative Risk
Programs offered by Paget Reinsurance Ltd.
a subsidiary of Chubb Bermuda.
•
Segregated account/protected
cell companies
•
Captive management
$80 million any one risk/project
Flexible Cell Structures
Primary or Excess
Primary, Excess and Aggregate Stop
Consider all classes of business
Lenders, equity investors, project sponsors
and trading companies
Consider all classes
Multinational Capabilities
•
Multi-country global policies available
for corporate investors
•
Bermuda, London and Dubai operations
•
Chubb 2488 Global D&O offers tailored
multinational solutions with Chubb syndicate 2488
global wrap and local policies
•
Off-shore and on-shore capabilities
•
Bermuda and Delaware domiciles
Customized covers for license cancellations
and other discriminatory government actions
•
Unbundled claims handling
•
Alternative fronting available
Sovereign Risk Insurance (Sovereign) is one of
the world’s leading underwriters of political risk
insurance and reinsurance. Sovereign’s clients
include many of the world’s largest banks,
exporters, multinational corporations, export
credit agencies and multilateral agencies.
•
Ability to efficiently manage global insurance programs
•
Leverage Chubb’s global presence with
local operations in 54 countries
•
Global claims management services
•
Ability to customize programs around
individual client needs
TM
•
Multinational CODA policies also available from
Chubb Bermuda International in London and Dublin
•
Local Policies/manuscript tailored solutions
•
Wrap manuscript policies
•
EPLI - $25M limit/$25M attachment
•
E&O - $25M limit/$100M attachment
(Architects and Accountants)
•
LPL - (Lawyers Professional Liability)
$20M limit/$100M attachment
•
CODA Mutual Fund IDL - $75M limit/attach anywhere
•
IDL - (Independent Directors Liability)
$75M limit/attach anywhere
•
Officers Liability - $75M limit/attach anywhere
•
Retired Independent Directors - $75M limit/attach
anywhere
•
Retired Officers & Independent Directors
cover available
•
Transactional Risk (W&I)
•
Cyber Liability
•
Punitive DamagesWrap (primary & excess)
•
CODA policies issued at inception
•
30 years of underwriting and claims experience
•
Broadest side A coverage
•
Client specific manuscript policies
•
Multinational capabilities tailored to clients needs
•
Punitive Damages Wrap policies issued at inception
3
About Chubb
Chubb is the world’s largest publicly traded property and casualty insurer. 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. We combine the precision of craftsmanship with decades of experience to conceive, craft and deliver the
very best insurance coverage and service to individuals and families, and businesses
of all sizes. Chubb is also defined by its extensive product and service offerings, broad
distribution capabilities, exceptional financial strength and local operations globally.
In January 2016, ACE Limited acquired The Chubb Corporation and adopted the renowned Chubb name globally. Chubb’s core operating insurance companies maintain
financial strength ratings of AA from Standard & Poor’s and A++ from A.M. Best. Chubb
Limited, the parent company of Chubb, is listed on the New York Stock Exchange
(NYSE: CB) and is a component of the S&P 500 index.
Contact Us
For more information about Chubb Bermuda’s insurance products please contact your
Bermuda or non-US-based broker.
Chubb Bermuda Insurance Ltd. is regulated by the Bermuda Monetary Authority.
It is not licensed in the U.S. as an admitted insurer nor is it an eligible excess and
surplus lines insurer.
Chubb Building
17 Woodbourne Avenue
Hamilton HM 08
Bermuda
O +441-295-5200
F +441-295-5221
www.chubb.com/bm
Published 08/2016
The information contained in this document is intended for general marketing purposes and information only. For terms and conditions of coverage, please refer to the specific policy wording.