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Insurance Company Professional Indemnity
Chubb Specialty Insurance

The insurance industry continues to undergo significant change. The current environment of mergers, diversification, global expansion and deregulation has drastically changed the size, scope and services offered to customers of insurance companies.

Many insurers have ventured beyond traditional property, casual or life activities and are involved in areas that previously may have been the domain of other financial services companies. For example:

  • Fund Management
  • Financial Advice
  • Securities Brokerage
  • Real Estate Investment
  • Captive Management
  • Agency/ brokerage Operations
  • Employee Benefit Administration
  • Third Party Claim Administration
  • Managed Curve

The above activities, along with many others, present insurers with significant exposures to loss. Among the exposures are the following:

  • Bad faith arising out of the insurer's handling of claims
  • Sale of unsuitable products
  • Breach of fiduciary duty
  • Breach of contract with customer
  • Improper execution of transactions

As insurer of two-thirds of the fifty largest insurance companies in the world, Chubb has substantial experience in insuring other insurance carriers. Chubb's Insurance Company Professional Indemnity Policy will assist insurers in managing their increasingly more complex risks in an uncertain environment.