Printer Friendly

Chubb markets new D&O coverage. (Marketplace: Property/Casualty).

A new package of insurance coverages from the Chubb Group of Insurance Cos. offers a single approach to help safeguard corporate directors and senior managers from a variety of exposures. Executive Protection Portfolio, a package of six comprehensive insurance coverages, is designed for publicly owned companies concerned about gaps in their executive liability insurance.

The six coverage sections include:

* Directors and Officers Liability: Recent corporate governance scandals and heightened public scrutiny of management have increased a public company's need for D&O insurance.

* Employment Practices Liability: The U.S. Equal Employment Opportunity Commission in 2001 handled more than 80,000 claims involving some of the largest settlements ever. Policyholders have access to Chubb's loss prevention program, which includes access to outside employment consulting services, model employment policies and other services.

* Fiduciary Liability: Anyone who manages investment decisions associated with corporate benefit plans can be sued for mismanagement of the plans.

* Outside Directorship Liability: Virtually all corporations face this exposure when their employees serve on the boards of outside organizations.

* Crime: Employee fraud, embezzlement and other workplace crimes cost U.S. businesses an estimated $4,500 per employee annually, according to the Association of Certified Fraud Examiners.

* Kidnap/Ransom and Extortion: Companies with employees traveling internationally face an ever-increasing risk of kidnapping. Executive Protection Portfolio's kidnap/ransom and extortion insurance reimburses for certain ransom and extortion payments and a wide army of related expenses, and it makes available the services of Ackerman Group, a hostage negotiation and international security firm.
COPYRIGHT 2003 A.M. Best Company, Inc.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2003, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

Article Details
Printer friendly Cite/link Email Feedback
Title Annotation:Chubb Group of Insurance Cos.
Publication:Best's Review
Article Type:Brief Article
Geographic Code:1USA
Date:Jun 1, 2003
Previous Article:Ace's marketing campaign offers message of protection, security. (Marketplace: Property/Casualty).
Next Article:Lifting the litigation: As more companies go bankrupt, reform of the asbestos compensation system is urgently needed. (Litigation Insight:...

Related Articles
At the top of his game: top African-American at Chubb creates a legacy of achievement.
New AIG Division Is Targeting High-Net-Worth Policyholders.
High-Tech Fidelity.
Chubb Offers Comprehensive Package Of Loss-Prevention Services, Policies.
Chubb specialty targets professional liability lines. (Property/Casualty).
Playing the odds: Corporate sponsorship of athletes, teams and sporting events is on the rise, and insurers are taking on the risk. (Promotional...
Political risk insurance gains. (Business Briefs).
Chubb sells yacht coverage.
The specialists: the Chubb Corp. credits its success to excelling in the niche markets it knows well, rather than growing by writing mediocre...
Life cycle risk management: agents and brokers are trying to earn a seat at the financial planning table.

Terms of use | Privacy policy | Copyright © 2019 Farlex, Inc. | Feedback | For webmasters