Material damage An architect firm stored their building models at a warehouse owned by a third party and they were lost in a fire. The warehouse
owner's insurance would not pay because of a warranty issue. Whilst our competitors would not have paid out for business interruption,
we did. In our view, our client had suffered a loss due to material damage caused by a fire.
Data loss Imagine that you are in the service industry such as an advertising agency or a market research consultancy. You suffer a
loss of data, for example mock-up advertisements or market research results. Your client decides they cannot wait for you
to reinstate your data so they move their business elsewhere. You need to be covered not just for the re-instatement of data
but also the opportunity cost of loss of business. With Chubb, you would be covered.
Neighbouring unit Imagine you occupy a unit on a light industrial estate. When goods are delivered outside normal business hours they are left
with the business at the neighbouring unit (signed for as safely received). A fire occurs at that neighbouring unit and all
the items are lost. Because Chubb covers loss within 250m of your location, in addition to the damage to the goods, we will
also cover you for any business interruption costs. These could be significant if the goods have to be re-made, re-imported
or are critical to a production process.
Terrorism In today’s world, activism has become a daily norm. Bombings are no longer the preserve of politically motivated terrorists.
The existing government backed wording only covers politically motivated terrorist acts. But what about an activist like the
nail bomber in 1999, or the DVLA letter bomber more recently? With Chubb, you are covered irrespective of whether or not it
is a politically motivated act of terror.