chubb global markets · portfolio of ocean going tonnage, our hull team underwrites and leads a...

Chubb Global MarketsOur portfolio

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Summary of the different lines available

Aviation 7

Cyber risk 9 Management liability 17

Energy 11

Environmental risk 13

Financial institutions 15Fine Art & Specie 33

Credit/Political Risk 21/23

Professional indemnity (UK/rest of world) 25

Professional liability (US) 27

Property 29US Healthcare 37Marine 19

Special risks unit 31

Terrorism & political violence 35

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Introduction

Risk does not respect borders: businesses and their brokers need access to specialist insurance underwriting wherever they are. Manufacturing, financial and professional services, transportation, and energy companies all operate in an increasingly challenging risk environment. To realise opportunities and grow, businesses must manage the ever changing risks they encounter daily.

They choose Chubb Global Markets because we have the reach and the resources to provide secure coverage for large, complex risk exposures anywhere in the world; written either via Lloyd’s or using our own company paper.

Working in partnership with brokers and clients, Chubb Global Markets delivers bespoke solutions across the risk spectrum. As tireless innovators we relish unusual or complex demands; our risk engineers take pride in solving clients’ problems. We understand that no business is the same. Our promise is to deliver a policy that precisely matches every client’s unique risk transfer needs.

Finally, Chubb Global Markets leverages the skills of an in-house team of claims specialists because a superior claims experience is central to the service we provide to our clients.

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Aviation

Chubb Global Markets is a leading insurer in the aviation class worldwide and we lead on many risks. We offer a wide range of coverages, including airline hull and liability, airports liability, aviation products liability (manufacturers and components) and general aviation insurance. Our team has the resources to keep pace with the ever advancing technology and contractual complexity that’s characteristic of this high profile sector.

Special capabilities

• Bespoke covers and solutions• National and international

organisations of all sizes• Dedicated, specialist aviation claims

handling

Underwriting capacity

We can deploy up to US$295m on an airline risk, and US$250m on all other placements including manufacturers and airport risks.

9

Cyber risk

Cyber risk management is at the top of the risk agenda for most businesses and organisations. We provide cyber risk assessment, post-event crisis management and risk transfer solutions to address the growing cyber and data privacy risks facing companies today.


• Incident response – we have partnered with a leader in crisis management to give clients 24/7 incident response on a global scale with a single point of contact

• Third-party liability - cover that protects the insured for liability resulting from the loss of personal or corporate confidential information or mismanagement of the insured's network security

• First party expense – cover to minimise the effects of a cyber incident including privacy notification expenses, business interruption income loss, data recovery and restoration costs, cyber extortion damages and crisis management expenses


Chubb Global Markets offers broad and flexible capacity and often leads business.

11

Energy

Chubb Global Markets is one of the leading providers of energy insurance. Our dedicated and experienced energy underwriters provide seamless insurance coverage across the entire energy value chain, from construction to operations. As well as our regional hubs, we leverage Lloyd’s international licences and broker networks; in emerging markets we often support local carriers through reinsurance. Access to our specialist risk engineers complements expertise around risk modelling, contributing to bespoke programme design.

Our clients range from the major international integrated companies and national oil companies to smaller regionally focused independent oil and gas companies. Our portfolio covers a substantial proportion of the top 100 oil and gas companies in the world. We offer significant top tier rated capacity which gives us the capability to lead a major portion of our portfolio.


• Upstream energy: Property damage, business interruption, control of well, third party liability, construction

• Downstream energy: Property damage, business interruption

• Onshore & offshore risk engineering• Captive fronting & multinational

policy support


Upstream up to US$300m any one occurrence. Downstream up to US$200m any one occurrence.

13

Environmental risk

Chubb Global Markets underwrites diverse risk transfer solutions that address complex environmental impairment liability (EIL) risks. A lot of clients work with us on a continuous basis, renewing annually, but we also provide multi-year policies designed to cover historical liabilities, for example as part of a property transfer transaction. We are always ready to share our technical expertise and legal knowledge with brokers to identify gaps in clients’ cover and any hidden liabilities they might face.


• Contractors pollution liability• Premises pollution liability• Multinational programmes• Crisis response planning and support• Risk management and control


US$30m limits per pollution condition, higher aggregates available.

15

Financial institutions

Financial lines insurance is a core competency at Chubb Global Markets and we serve a wide range of institutions with specialty solutions. Our clients benefit from a global network through which we can provide compliant local policies. We understand the demanding governance frameworks that financial institutions have to comply with and the unique risks they pose. Our team operates at the highest level with clients and directors and officers cover is a big priority.


• Directors & officers liability• Crime• Professional indemnity• Cyber risk • Employment practices liability • Fiduciary liability, including US


Leading market capacity, typically up to US$25m.

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Management liability

D&O, crime, fiduciary and employment practice liability for commercial enterprises are all important specialties at Chubb Global Markets. We focus on international clients, including US and Canadian domiciled businesses, and we have a growing presence in Lloyd’s with the ability to offer fully licensed solutions via their global platform.


• Reverse flow accounts (large US listed operations re-domiciling) into Europe

• Multinational operations: our Lloyd’s licence provides us with the ability to give wide cover for operations or subsidiaries in Switzerland, US and Canada for example

• Access to the expertise of our Lloyd’s underwriters and our company market underwriters. Our company stamp offers recognised capacity & global expertise in this field


Typically up to US$25m.

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Marine

We provide cover for the entire spectrum of marine risks, ranging from the recognised to the more complex, including risks associated with cargo, hull, war, yacht, marine liability and fine art and specie exposures.

Our portfolio is international and written as insurance or facultative reinsurance whilst we also write pro rata treaty reinsurance in specific cases.


CGM’s marine underwriters are recognised as market leaders with expertise in assessing and underwriting complex exposures.

Our specie team can construct bespoke fine art programmes, for risks such as personal fine art collections, museums, galleries, dealers and auction houses.

Our cargo underwriters specialise in providing multinational solutions using

our global network capabilities. As well as a varied general cargo portfolio, we also underwrite project cargo with DSU risks, often deploying our in-house risk management expertise as part of the underwriting process.

In addition to a well-established lead portfolio of ocean going tonnage, our hull team underwrites and leads a significant amount of small craft, brownwater and specialised operations including offshore E&P and construction industry risks. Our hull appetite also includes vessel construction, war and yacht risks.

Our marine liability team underwrite charterers, ship repairers, terminal operators, P&I, salvors and other miscellaneous marine third party liability risks.

We also have a dedicated and knowledgeable claims team, with experience of adjusting complex and sensitive claims in all of our chosen classes of business.

21

Credit

Our credit insurance protects against the non-payment of accounts receivable and related trade transactions with products available for corporations and financial institutions.

Our core product provides balance sheet protection excess of a deductible but we offer policies for a range of requirements: from single buyer protection to medium-term credit for capital goods through to policies designed to provide regulatory capital relief to financial institutions.


• Underwriting centres in strategic global trade and investment locations

• Dedicated underwriter for all aspects of the policy

• Non-cancellable policies and limits on tenors of up to 10 years

• Top up product providing capacity in excess of an existing credit insurance policy

• Online portal for policy administration• Country and credit risk team providing

tailored research and analysis


US$400m per buyer.

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Political risk

Chubb Global Markets offers comprehensive political risk cover for financial institutions and corporates with overseas investments and contracts.

Political risk insurance is tailored to the specific situation and protects against a range of perils including expropriation and related events, currency inconvertibility and non-transfer, political violence (including terrorism), war, contract repudiation, license cancellation and non-payment of amounts due from governments and government-owned institutions.


• Underwriting centres in strategic global trade and investment locations

• Non-cancellable policies and limits of up to 15 years

• Country and credit risk team providing tailored research and analysis

• Bespoke policy wordings• Multinational programmes


US$150m per policy.

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Professional indemnity (UK/rest of world)

Chubb Global Markets has a dedicated team of experienced, highly respected underwriters specialising within the international PI market. As a long established lead market we are able to offer solutions to a wide range of professions and businesses from the top FTSE listed companies to developing multinationals, medium-sized entities and boutique specialist firms. Our strong client and broker relationships allow us to add enhanced value to our clients, so it is no surprise that we are seen by them as an important strategic partner.


• Underwriting complex risks to find workable solutions

• Bespoke and compliant policy wordings across traditional and emerging professions

• Compliant solutions for global PI requirements through Lloyd’s licenses or Chubb’s wider network of local offices

• A dedicated PI claims team who together with our chosen panel of specialist solicitors, experts and adjusters provide an unprecedented level of service and technical ability to our clients

• Online solutions for SME and affinity business


GBP/US$15m.

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US Professional liability

Professionals in the US have always operated in a litigious environment, but an increasingly aggressive plaintiff bar, the growth of litigation funding and greater ease of collective actions have made professional negligence a potentially ruinous issue for all kinds of professions.

Professional firms including accountants, architects, engineers and insurance brokers and lawyers all put their trust in professional liability insurance from Chubb Global Markets.

We cover the full spectrum of traditional and emerging professions from small specialist firms to large listed multinationals for liabilities arising out of any professional advice or service given.

Claims can arise in any country or be tried under any jurisdiction, so we provide global policy coverage capability for our US policyholders. Crucially, Chubb Global Markets also understands the particular challenges posed by the US judicial system and the implications of local state laws.


• Bespoke worldwide errors & omissions insurance and reinsurance policies

• Specific territorial coverage available via local policy issuance coordinated by our Chubb Global Services team

• Our experienced claims team, working in conjunction with US panel counsel, provide expert service when called upon to handle and resolve claims for our clients

• Cover can be provided on a direct and facultative per account basis, or via Lloyd’s coverholders and on a reinsurance basis


Up to US$10m of capacity per account or programme.

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Property

Businesses of all sizes purchase their property cover from Chubb Global Markets, from Fortune 500 multinational companies and large national businesses, to SMEs and homeowners. We accept open market placements, either direct insurance or facultative reinsurance, and via MGA/binding authority agreements. Global and local fronting is available. Coverage can be local all-risk, standalone catastrophe perils such as flood, or bespoke programme coverage.


• Broad risk appetite across most sectors

• Multinational programmes with compliant local policies

• Challenging risks, including those with a poor loss record

• Risk engineering• Expert and precise policy wordings


Chubb Global Markets offers significant capacity and is able to provide critical natural catastrophe cover plus contingent business interruption cover on a worldwide basis.

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Special risks unit

Business risk doesn’t always fit into a convenient definition – or insurance programme for that matter. That’s why Chubb Global Markets formed its Special risk unit. A focal point for the underwriting expertise found within Chubb Global Markets and the Chubb Group as a whole, the unit finds enterprise risk solutions where there is currently either no market or a very limited market for clients’ needs. It means designing one off, bespoke products to address the particular needs of individual clients.


• Providing solutions to complex risks• One-off bespoke covers• Solutions for specific exposures on a

client’s balance sheet• Underwriting risks where there is

currently no market

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Fine Art & Specie

Chubb Global Markets specie underwriters are recognised market leaders in their field, with particular expertise in designing bespoke fine art programmes. We can provide all risks covers for personal collections, museums, galleries, dealers and auction houses. Our dedicated and knowledgeable claims team have extensive experience of adjusting complex and sensitive claims relating to valuable items.


• Specie underwriting, with multinational programmes integrating local policies that are compliant with regulations


Specie, US$75m.

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Terrorism & political violence

Terrorism is an ever-changing, unpredictable risk, so having effective cover in place that will respond when and where it’s needed is crucial. Flexible and seamless protection is a hallmark of Chubb Global Markets terrorism insurance. Our highly specialist teams constantly monitor terror threats to better understand the individual risks facing our clients. In addition to standalone terrorism we offer political violence relating to sovereign conflict, riots and strikes.


• Direct access and wrap around cover to compulsory pool arrangements worldwide

• Packaged PDBI + terrorism + political violence programmes

• Structured global admitted standalone programmes

• Bespoke wordings• Real time security analysis

Underwriting and capacity

Chubb Global Markets offers limits up to US$50m.

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US Healthcare

The US healthcare industry continues to evolve with new medical treatments and rapid advances in healthcare technology set against a constantly changing regulatory landscape with transparency requirements and financial constraints.

Chubb Global Markets underwrites these dynamic exposures and provides insurance coverage solutions for organisations within the continuum of care delivery in the US including:• Hospitals• Senior Living

• Managed Care• Allied Healthcare

We understand the particular challenges posed by the US judicial system and the implications of local state laws including the impact tort reform and its erosion.

We also take a collaborative approach to underwriting US medical malpractice risks and work within the framework of the Chubb Healthcare Industry Practice to pool expertise and offer a consistent value proposition. For further details please see: https://www.chubb.com/microsites/chubb-healthcare-solutions/


• We provide bespoke wordings covering medical professional liability and ancillary lines to cover our clients’ evolving insurance requirements

• Our experienced claims team, working in conjunction with US panel counsel, provide expert service when called upon to handle and resolve claims for our clients

• Cover can be provided on a direct and facultative per account basis, or via Lloyd’s coverholders and on a reinsurance basis


Up to US$10m of capacity per account or programme.

All content in this material is for general information purposes only. It does not constitute personal advice or a recommendation to any individual or business of any product or service. Please refer to the policy documentation issued for full terms and conditions of coverage. Chubb European Group SE (CEG) is an undertaking governed by the provisions of the French insurance code with registration number 450 327 374 RCS Nanterre. Registered office: La Tour Carpe Diem, 31 Place des Corolles, Esplanade Nord, 92400 Courbevoie, France. CEG has fully paid share capital of €896,176,662.UK business address: 100 Leadenhall Street, London EC3A 3BP. Supervised by the French Prudential Supervision and Resolution Authority (4, Place de Budapest, CS 92459, 75436 PARIS CEDEX 09) and authorised and subject to limited regulation by the Financial Conduct Authority. Details about the extent of our regulation by the Financial Conduct Authority are available from us on request. You can find details about the firm by searching ‘Chubb European Group SE’ online at https://register.fca.org.uk/

Contact

Chubb Global Markets 100 Leadenhall Street London EC3A 3BP United Kingdom T +44 (0)20 7173 7000 www.chubb.com/uk-en/chubb-global-markets

UK7238-MD 10/19

chubb global markets · portfolio of ocean going tonnage, our hull team underwrites and leads a...

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