Excess & Umbrella Liability
Chubb’s Umbrella and Excess products provide a proven way to help protect you from spiraling legal costs and high liability
Chubb delivers a powerful combination of underwriting know-how, innovative products, exceptional client service, integrity
and world presence.
Customarq for Law Firms
Chubb’s Customarq for Law Firms goes beyond most traditional policies, providing insurance protection against exposures unique to the legal
profession. For example, our business income definition considers revenue based on billable hours, fees for services or other
sources of income. Customarq for Law Firms also offers a global extension that provides insurance for domestic and foreign exposures under one policy.
Quality insurance protection, combined with Chubb’s exemplary claim service and financial strength – it’s no wonder Customarq for Law Firms is the package product of choice for the legal profession.
Automatic $500,000 Blanket Limit
This blanket limit allows a law firm to use insurance dollars where they are needed most following a loss. It applies to the
following property coverages:
- Accounts Receivable
- EDP Property
- Fine Arts
- Leasehold Interest (Bonus Payment, Prepaid Rent, Sublease Profit, Tenants' Lease Interest)
- Leasehold Interest (EDP Equipment)
- Leasehold Interest (Undamaged Tenant’s Improvements & Betterments)
- Nonowned Detached Trailers
- Outdoor Trees, Shrubs, Plants or Lawns
- Pair and Set
- Personal Property of Employees
- Physical Evidence
- Public Safety Service Charges
- Valuable Papers
Subject to underwriting, the blanket limit can be increased to $1 million or $2 million. Smaller firms that don't need these
high limits can opt for a $250,000 blanket limit.
“All-Risk” Property and Income Perils
- Water damage including surface water, seepage, backup of sewers or drains and leakage or influx of water
- Electric arcing, mechanical breakdown and steam boiler explosion
- Change in temperatures or humidity
Additional Property Features
- Personal Property, including law libraries and Improvements & Betterments
- Any Other Location
- Electronic Data and Valuable Papers — in storage, away from premises
- In Transit
- Money and Securities
- Newly Acquired Premises
- Telephone Equipment and EDP equipment
- Definition considers revenue based on billable hours, fees for services or other sources of income
- Unlimited extended period of restoration that includes the time required to restore the firm's business to the level that
would have existed had no loss occurred
- Ordinance or law included in definition of period of restoration
- Loss of utilities (including the Internet)
- Protection for nonprofessional services and activities of a law firm
- Broad protection for bodily injury, property damage, personal injury and advertising injury resulting from liability imposed
by law or any contract
- Includes “all-risk” legal liability at policy limits
- Vendors, lessors of premises, lessors of equipment and employees automatically included as insureds
Worldwide Coverage Territory
Chubb offers a full complement of additional products to meet the needs of law firms, including commercial automobile, workers
compensation, excess and umbrella liability, multinational and professional liability insurance.
- Customarq global extension provides insurance for domestic and foreign exposures under one policy
Why does a law firm need Customarq? Consider the following scenario:
A law firm sends client files to a new storage location. A fire occurs at the storage location before the firm is able to
notify its agent. The fire destroys the valuable papers, which cost $85,000 to recreate. Customarq for Law Firms automatically provides protection for valuable papers at storage facilities up to $100,000. In this case, the
firm would be indemnified for the expenses to recreate the files.
Service and Strength
With Chubb, law firms have the convenience of one-stop shopping for an insurance program designed to meet their unique needs.
We deliver more than solid insurance products. We support our customers through our renowned services, extensive global network
and financial strength.
Chubb's reputation for outstanding service is built on a consistent track record of performance by its global network of loss
control and claim professionals. Our loss control professionals are experienced in making risk assessments and proposing practical
remediation to help mitigate or prevent losses. Should a loss occur, our exceptional claim service is available anytime/anywhere
in more than 140 languages through a toll-free number or via the Internet.
Our financial strength continues to earn high ratings from A.M. Best, Standard & Poor’s and Moody’s, leading evaluators of
insurance companies. Financial strength, combined with our underwriting expertise and claim service, means you can count on
Chubb to be there when you need us most.
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