13 June 2017Insurance

Chubb expands terrorism and war capacity by 50%

Property/casualty insurer Chubb has increased its terrorism, political violence and war insurance capacity by 50 percent to meet the needs of large, multinational businesses with growing global exposures.

The company will now offer insurance capacity of up to $150 million or €150 million (previously $100m/ €100m) for terrorism, political violence and war risks as it further builds its proposition in response to evolving threats and increased demand from multinational clients.

According to the company, it has increased its terrorism and political violence capacity per account by 300 percent in the last two years. In addition to standalone cover, Chubb also offers an integrated proposition to cover the gaps between traditional property and business interruption, terrorism and political violence insurance policies.

"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," said Piers Gregory, terrorism and political violence underwriting manager, Overseas General Insurance at Chubb.

"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."

Today’s stories

The Hartford names new chief risk officer succeeding Rupp

WR Berkley sets up two Mexican companies; names heads

Peak Re gets green light to set up Labuan branch in Malaysia

Validus to raise $250m through share offering

Loppnow returns to Lockton P&C from Willis Towers Watson

US commercial insurance prices stagnate

Did you enjoy reading this story?  Sign up to our free daily newsletters and get stories like this sent straight to your inbox.

Already registered?

Login to your account

To request a FREE 2-week trial subscription, please signup.
NOTE - this can take up to 48hrs to be approved.

Two Weeks Free Trial

For multi-user price options, or to check if your company has an existing subscription that we can add you to for FREE, please email Elliot Field at efield@newtonmedia.co.uk or Adrian Tapping at atapping@newtonmedia.co.uk

More on this story

1 June 2017   Property/casualty insurer Chubb has named John Watkins as senior vice president, head of casualty claims for its North America claims organisation.
9 November 2017   Newbridge Risk Partners, an underwriting cell on the Castel MGA formation platform, has secured a new binder with Lloyd’s and London company market capacity to support the continuing growth of its political violence and terrorism insurance and reinsurance business.