Chubb could be forced to pay out up to $2 billion on directors and officers (D&O) insurance policies due to a surge in litigation in the wake of the financial crisis, an insurance expert cautioned this week. Jay Gelb, analyst at Barclays Capital, warned investors that “given a potential for a wave of D&O litigation, [...]
US-based insurer Chubb this week posted first quarter profits down 49% on year to $341 million, or $0.95 per share. The high-net worth specialist said premium sales have been dented by the falling number of high net worth individuals, whilst profits were further damaged by a drop in investment income. Net written premiums for the [...]
In a bid to promote the green agenda, the Chubb Group of Insurance Companies is to encourage homeowners to go green after their home is damaged (or even destroyed). One of the issues with going green can be exorbitant costs, but Chubb has promised to assist homeowners with insurance that will cover the costs of [...]
Chubb Insurance has launched a new Pensions Liability Insurance, which aims to provide peace of mind for pension trustees. The firm says it is responding to today’s uncertain economic environment, which has increased the risk trustees face when they are already dealing with more demanding obligations. According to Chubb, to fulfil their responsibilities trustees now [...]
Business and home insurer Chubb Corp has posted its fourth quarter results with profit down 37% on year. Net income fell to $407 million, or $1.13 per share, from $650 million, or $1.68 per share, in the same period a year ago. Net premiums dropped 4% on year to $2.9 billion. Chubb said about half [...]
Chubb Insurance, the high net worth specialist, has selected ARAG as its new legal expenses provider for its products in the mid, high and ultra net worth range. Policyholders will the insurer will benefit from improved protection, which applies to those holding the Initial (mid net worth), Masterpiece (high net worth) and Signature (ultra net [...]
Chubb Group has pledged to help businesses stay green with a new move in its insurance policy approach. Peter Thompson, worldwide energy manager for Chubb Commercial Insurance, has stated that businesses with commercial property insurance policy from the firm can enjoy having their green investments automatically protected even if there is a loss. For the [...]
