Chubb commits to 'no COVID-19 layoffs'

Property/casualty insurer Chubb has announced that it will not conduct any layoffs of its employees while in the midst of the COVID-19 pandemic health crisis.

Chief executive Evan Greenberg stated that the company is committed to supporting people and communities during these difficult times, and assured its employees to not worry about their jobs.

Additionally, the insurer pledged $10 million to pandemic relief efforts globally. The support will go to people and programmes providing emergency frontline services and for assistance to the most financially vulnerable members of the community who have been impacted the hardest by the pandemic.

Chubb said it will work with a range of partner organisations in the US and other countries to provide essential resources immediately in areas facing the most acute need. This includes organisations providing emergency medical equipment and supplies to healthcare facilities, and to community foodbanks to support those who have become unemployed as a result of the pandemic. The funding will be made by the Chubb Charitable Foundation.

"We are committed to supporting people, business and communities most impacted by this global crisis," said Greenberg. "Our $10 million commitment will add to the urgent efforts required to meet the immediate health and nutrition needs of those most affected. Concerning our no-layoff pledge, we want our 33,000 employees around the globe to be assured that their jobs are secure at this difficult time."

He added: "Given all of the uncertainty that exists in the world, employment and benefits are one thing my colleagues will not have to be concerned about at this time."