Chubb introduces cyber-bullying cover

London-based insurer Chubb has updated its private clients offering to introduce cover for cyber-bullying.

The updates mean policyholders who become victims of cyber-bullying may claim up to £50,000 towards professional support, lost income and temporary relocation costs under their home policy.

The additional cover is issued if online harassment causes policyholders to miss work, school or college. It is one in a range of new, improved and amended home and motor covers introduced within Chubb’s three tiers of private clients policies – initial, masterpiece and signature.

Chubb has introduced further covers not previously available as standard in the insurance market, including diminution in value (DIV) within motor policies, which covers the difference between a car’s market value before and after a repair as well as the repair costs.

Previously only available for fine art and wine under contents insurance, according to the firm DIV is applicable for cars more than 15 years old. It has been introduced to the motor policy in recognition that some collectors consider their cars as works of art and their market value can be affected if they are damaged and then restored.

The policy changes came into effect for new business in November and will come into effect for renewals from 1 January 2016.

Chubb said the changes are in response to extensive research by the firm to establish how to further enhance the quality of its products and services.

“We’ve listened to the needs of our brokers and their clients, having engaged YouGov to undertake our biggest-ever research project,” said Tara Parchment, private clients manager for UK and Ireland.

“We learned a lot about the changing environment that we work in – clients want ever-faster service and brokers wanted us to create more innovative, differentiating covers.”