The following ESL rates will be effective for Chubb accounts:
• 35% for Commercial effective 1 March 2021 (previously 32%)
• 20% for Homeowners effective 1 January 2021 (unchanged)
• 1% for Motor Vehicle effective 1 August 2019 (unchanged)
The ESL rate has been calculated at a rate sufficient to meet Chubb’s contribution requirements and may be reviewed from time to time.
Premiums are regularly reviewed and take into account risk factors such as location, construction and claims history. In addition, our premiums take into account business expenses, including operating and reinsurance costs. Any changes to our premiums are independent of changes to the ESL.