Financial Services
Loss Control Solutions

Chubb’s Loss Control offers business income consultations and premium audit services that can help companies plan for the future with confidence. Business income consultations help evaluate business income exposures and contingency plans and premium audits ensure the best value for premium costs.

Business Income Consultation

Business income is one of the most complicated and misunderstood of all insurance coverages. Chubb is a pioneer in offering business income consultations, which evaluate total exposures to help determine the amount of business income insurance needed. Our specialists review financial statements and facilitate conversations with management to explain how business income calculations are made, what records are needed and how to prove a loss, if one occurs. Chubb also offers a Business Income Handbook that explains the fundamentals of business income through a step-by-step approach.

Our business income specialists help identify potential situations that may impact a company’s ability to recover following a loss. We discuss the advantages of having a good business contingency plan and help companies anticipate hazards, while encouraging them to develop initial plans that will minimize a disaster’s effects. Another benefit: Being properly prepared for a disaster assists companies in satisfying best practices and United States corporate governance requirements. 

In addition to the service offered by our Business Income Consultants, Chubb offers an online Business Income and Extra Expense calculator  to help clients estimate the appropriate amount BI/EE limits.   

Premium Audit

Chubb may conduct a premium audit at the end of the policy period for workers compensation, general liability, international or automobile policies (where the coverage is auditable) to ensure that our clients receive the best value for their premium cost. We assess the impact of any changes in the operation, exposure base and the accuracy of class codes. The audit ensures the premium is accurate for the policy period and that the client receives credit for any allowable deductions. Premium audits are conducted either on site or over the phone.

Account Reviews
For companies with larger, more complex workers compensation, general liability and package insurance needs, we can conduct account reviews. In these reviews, a premium audit specialist reviews the operations and records when the policy is first written, reducing the stress and time commitment of an audit at policy expiration. We can also recommend efficiencies that can positively affect a company’s operations.

Premium Audit in Action
A manufacturing firm carrying $500,000 of business interruption coverage participated in a business income consultation with one of Chubb's Premium Auditors. After reviewing the operation and its financial data, she found the firm to be grossly under protected. In fact, its records indicated it would need close to $10 million of coverage to maintain production in the event of a catastrophe. Had a catastrophe occurred, the firm might have joined the unfortunate ranks of companies that are unprepared for a major disaster.

Count on Loss Control Services

We understand the hazards that could cripple a business. Chubb's Loss Control services are designed to improve safety and prevent or mitigate losses. We first analyze the loss history and understand the business issues, then develop solutions geared toward removing the loss causes so history does not repeat itself. We work closely with many levels of an organization to craft asset management and loss prevention solutions that help businesses have greater control over downtime and more influence on their bottom line.

Our global network of loss control professionals reside in 28 countries. In fact, 25% of our staff is located outside of the United States. Wherever they are, our loss control professionals understand the local business environment and regulations, making global account coordination seamless and ensuring consistency and quality at any location.

Additional Information

Business Income Consultation

Business Income Handbook

Business Recovery Planning Guide

Commercial Loss Control Services

Loss Control services are available to Chubb commercial policyholders. For more information about these and other services, write to loss_control_service@chubb.com. For information on becoming a Chubb customer, contact your insurance agent or broker.