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Edition 3 Contents: 
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Message From Chubb Vice Chairman and Chief Operating Officer Thomas F. Motamed
As I mention toward the close of the article, it is this consistency -- and the desire to have the same customers, brokers and agents for a long time -- that separates us from competitors. I sincerely believe that and view our long-term partnerships with valued producers like yourself as integral to our continued success. Tom Motamed to view the article.
Innovator from ChubbSM Now Available to Life Sciences Clients You can now offer your life sciences clients Innovator from ChubbSM -- the fast, easy, smart insurance solution. In one convenient package, the policy includes worldwide protection for property, general liability, crime, employee benefits liability, foreign voluntary workers compensation, and foreign hired and nonowned auto liability.
An online application for Innovator makes it easy to develop an insurance program for your life sciences clients. Request an online premium indication in real time for all of your qualifying Innovator new business submissions. Innovator from ChubbSM offers your life sciences clients the flexibility to purchase the insurance they need today and, as they grow, the protection they need for tomorrow. For more information, go to or contact your local Chubb technology underwriter today. Customarq Classic: The Next Generation Wish you had one policy flexible enough to fit all your clients' monoline property and package needs? Look no further. Chubb's newly enhanced Customarq Classic property product creates a single policy that provides flexibility for both monoline property and package clients. To date, 42 states have approved the new product -- 31 of these with a February 1 effective date. If you haven't yet been contacted to learn more about the enhanced Customarq property product, your state may be among the few that haven't yet approved our filing. Stay tuned! Some highlights:
MARKETING RESOURCES To help you sell the benefits of Customarq Classic, we have created handy marketing tools: For more information, contact your Chubb underwriter today.
D&O EliteSM Provides Dedicated Limit to Directors and Officers , a new insurance policy from Chubb, can help protect the personal assets of directors and officers when their company is financially unable, unwilling or legally prohibited from funding indemnification. This coverage comes at a time when corporate scandals, financial restatements and bankruptcies have exacerbated an already litigious D&O liability environment and have increased overall financial uncertainty. In some cases, the financial losses of shareholders exceed the limits of D&O liability insurance, exposing directors and officers and their personal assets to direct liability. D&O Elite highlights include:
Chubb also offers for public, private and not-for-profit companies, as well as for health care organizations and financial institutions. Chubb's insurance policy is for individual independent directors who serve on one or more boards.  New CHUBB PROE&OSM Meets Needs of Many Professional Classes Chubb just improved professional liability insurance with , a new policy designed to help protect dozens of different types of professionals from a broad range of liability exposures. CHUBB PROE&O errors and omissions liability insurance is being offered at a time when many professionals are facing increased exposure to claims of professional financial losses from allegations of negligence. At the same time, competition has driven consultants and other professionals to broaden the range of services they offer, which may dramatically increase their exposure to claims. CHUBB PROE&O broadly defines the types of services that can be insured, including those services performed electronically, and provides automatic coverage for subsidiaries. The policy’s broad definition of a claim includes defense for written demands for monetary or non-monetary relief, as well as arbitration proceedings. In addition, CHUBB PROE&O provides worldwide coverage, which means Chubb will pay to defend policyholders against lawsuits around the globe. The business classes eligible for CHUBB PROE&O coverage run the gamut from answering services to Web page designers and include auction houses, consultants, financial planners, human resources consultants, management consultants, printers, public relations firms, and tax preparers, among others. Chubb provides customized coverage and will underwrite each account independently, so coverage is always tailored to meet a customer’s unique liability needs. CSI also offers professional liability insurance products for , , , , and and organizations.
Insuring to Value Rising construction costs and recent home improvement projects could mean that your customers' homeowners insurance coverage just isn't keeping pace with the times. In fact, about 64% of U.S. homes were underinsured by an average of 27% in 2003.* Many carriers offer inflation guards that take rising home costs into consideration. However, in recent years, several insurers have dropped extended replacement-cost coverage, while still other carriers provide the coverage at an additional premium. Chubb, on the other hand, continues to provide this crucial built-in policy feature in most jurisdictions. (In California, Chubb's extended replacement-cost coverage is capped at 200% of the policy limit. In Alabama, Florida, Hawaii, Louisiana, Mississippi, South Carolina, Utah, Washington and Wyoming, the cap is 150%.) Chubb's complimentary home appraisal service is a key component of helping to insure a home to its proper value. During the in-home visit, our appraisers will carefully note architectural details and interior and exterior features to help you and your customer come up with the home's replacement-cost and appropriate amount of coverage. Automatic annual adjustments or square footage estimates used by our competitors may not accurately estimate home replacement costs. Homeowner policies should be evaluated at least every other year or when your customers have made changes to their lifestyles that may include expansions or additions to a home, major interior design projects, or purchases of big-ticket items. To help your customers evaluate the strength of a Chubb policy versus others in the marketplace, . * Marshall & Swift/Boeckh MARKETING RESOURCES , The Wall Street Journal, January 20, 2004 , Best's Review, November 2003 |
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I thought you'd be as pleased as we were to learn that three Chubb companies -- Federal, Great Northern and Vigilant -- were included in of 15 property casualty insurers that have maintained an A+ or better Best's Rating for the past 50 years. Characterizing this distinction as a "remarkable feat," the cover story goes on to explore the principles, strategies and business relationships that have enabled us to maintain our ratings with such consistency.