Chubb reviews casualty insurance policy

Chubb, the property/casualty insurer, has changed its casualty policy wording for businesses in the UK and Ireland, as it continues to expand its offering in this key business line.

The changed wording is designed to meet the needs of UK and Ireland businesses of all sizes, from small and medium-size firms, through to middle market and larger companies, including multinationals.

It includes a number of significant new extensions, including for data breach and cyber-attacks as well as for crisis response, with annual aggregate indemnity limits of £100,000 for both.
In its reviewed policy, it also changes the definition of employee to include volunteers.

It also provides enhanced custody and control coverage, and is compliant with the UK Insurance Act.

Mark Roberts, UK and Ireland casualty manager for Chubb, said: “The feedback we get from our brokers and clients is the main driver of our product development. Our enhanced, warranty, condition precedent and basis clause-free casualty wording is a fine example of this approach, as it includes cover for new risks that are increasingly important to UK and Ireland businesses. At the same time, using clear, simple language in our policy, means that our clients know exactly what they get from us.”