Empire Enhancements Demonstrate Chubb's Commitment to New York
WARREN, NJ, November 16, 2005 – The Chubb Group of Insurance Companies has renewed its commitment to the New York marketplace by unveiling major enhancements
to its Masterpiece® line of insurance products for New York residents.
"Chubb's commitment to our customers, agents and brokers in the New York marketplace has never been greater since our founding
on the docks of Manhattan more than 120 years ago," said Joseph Riccio, vice president of Chubb & Son and New York manager
for Chubb Personal Insurance, in announcing a series of new insurance products and services.
Chief among Chubb's package of Empire Enhancements are the introduction of three new products in New York.
Signature PassportSM provides worldwide insurance protection for travelers during an annual policy period. The policy covers many expenses that
are excluded under policies and travel assistance programs offered through Internet sites and credit card companies. Key features
include up to $250,000 in coverage for emergency medical transportation to the nearest advanced medical facility and $50,000
in excess medical expenses. The policy also will help pay for transporting a loved one to the location where the insured is
hospitalized, escorting and repatriating minors, and locating translation and legal services.
Masterpiece® Condominium PreferenceSM and Masterpiece® Cooperative PreferenceSM will help the owners of luxury condo and co-op apartments fill coverage gaps created by building associations reducing commercial
insurance limits and increasing deductibles. They include $100,000 in coverage for assessments to unit owners for incidents
that may not be adequately addressed by a building association or its master insurance policy. A $10,000 sublimit applies
for assessments resulting from deductibles under the association's policy. By bundling together coverages for additions and
alterations, jewelry, fine arts, silver and other personal property, and liability, insureds can save nearly 15 percent on
their annual premium.
Masterpiece® Employment Practices Liability Coverage provides policyholders who employ five or fewer residential staff, such as butlers, chauffeurs, nannies and cooks, with insurance
for claims alleging wrongful termination, sexual harassment and employment discrimination. The coverage also addresses the
costs of hiring a public relations firm to help control reputation-related damage after (and, in some cases, before) a covered
incident occurs.
Riccio noted that the availability of these new insurance products comes on the heels of the nationwide launch of Signature Suite. This luxury risk management service offering is intended to help high-net-worth and family-office customers manage their
unique exposures. It provides complimentary access to personal security consultants, travel-safety experts, personal staff
advisers and collections-management tools.
Riccio also announced that Chubb’s New York homeowners customers could find qualified local home protection specialists at
up to a 33-percent discount through the Masterpiece® Protection Network. Currently, 130 of the worldwide network’s 1,000 specialists in home security, contents inventorying and loss mitigation
serve the New York region. In addition to helping customers protect their property and families, some of these services can
result in homeowners premium credits.
In addition, Riccio indicated that New York customers could now pay their insurance premiums over the telephone by debit card
or electronic check via banking route number. The number to contact is (866) 324-8222.
Member insurers of the Chubb Group of Insurance Companies form a multi-billion dollar organization providing property and
casualty insurance for personal and commercial customers through 8,000 independent agents and brokers worldwide. Chubb’s global
network includes branches and affiliates throughout North America, Europe, Latin America, Asia and Australia. Chubb is a worldwide
leader in insuring fine homes, automobiles, yachts, antiques and other collectibles, and personal liability. Additional information
on Chubb can be found on the Internet at www.chubb.com/personal.
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