Financial Institutions

Chubb has commodities and services to provide the protection you need – one banking location or hundreds, local or global, one language and currency or several.

Our protection includes:

• Customarq for Financial Institutions provides property and liability insurance which we can acclimate to your unique needs. Customarq Classic and Customarq Limited provide coverage to larger and smaller institutions respectively with blanket coverage for fine arts, rents and valuable papers.
• Banking institutions are becoming increasingly vulnerable to costly lawsuits. Escalating litigation can threaten any organization – large or small. Even the most progressive and conservative banking organizations can find itself exposed and at risk. Chubb offers a variety of coverage solutions for banks and other depository institutions that can guard your organization and people from the effects of costly lawsuits, including:
  • Bankers Professional Liability (BPL)
  • Directors and Officers Liability (D&O)
  • Employment Practices Liability
  • Fiduciary Liability
• Chubb offers protection solutions to guard your organization from risks such as employment dishonesty, forgery, burglary, destruction or disappearance of property, including additional coverage for the protection against crime associated specifically with mail fraud and computer systems. The best internal controls and compliance procedures cannot prevent criminal intent. Fraudulent activity is an increasingly troublesome reality in the world of technological advancement and e-commerce.

Risk managers are increasingly concerned about events and situations that could have a negative effect on an institution’s cash flow, earnings and balance sheet strength. Price volatility and limited capacity make customary insurance less attractive to financial institutions. Recognizing these limitations, Chubb has become an industry leader in the development of Alternative Risk Transfer programs for financial institutions. Our underwriters acclimate solutions and create strategic risk financing mechanisms that fit your risk management objectives.

Specifically available to depository and lending institutions with assets less than $1 billion, ForeFront Portfolio offers a simple, integrated solution offering coverage to your worldwide operations through one simple application. ForeFront Portfolio integrates the coverage provided on each of the above solutions as well as lending liability and outside director liability. It also provides kidnap ransom coverage (available also as a stand-alone solution) and safe deposit liability.

Insurance protection for the investment community has never been more important, and Chubb has responded with a suite of unique products and services to provide the coverage you need, including:

• Targeted to tenured mutual fund companies with a solid track record, Investment Company Asset Protection (ICAP) provides protection against Errors and Omissions as well as Directors and Officers Liability for mutual fund companies, directors and officers, and past, present and future employees of all insured constituencies. The coverage can also be extended to provide entity coverage for the Fund’s Service Providers. (i.e. custodians, distributors, administrators, portfolio advisors and managers, transfer agents).
• Chubb also offers Investment Advisor E&O coverage. It is targeted to investment management companies and advisors with assets under management of less than $1 billion. The coverage is uniquely designed to meet the insurance needs of a range of Investment Advisors – the entity, qualified newly created or acquired subsidiaries, as well as past, present and future directors, officers and employees of the company.
• ForeFront^TM by Chubb is an insurance solution designed to protect investment advisors with assets of less than $1 billion.

Chubb Specialty Insurance

Chubb has reached worldwide recognition in the insurance industry for providing comprehensive, creative solutions to the unique risk management issues that insurance companies face.

Known as the “insurer’s insurer” Chubb has achieved worldwide recognition in the insurance industry for its solutions to the unique risk management issues that insurance companies face, including:

• Customarq for Financial Institutions - provides property and liability insurance which Chubb can customize to your unique needs.Customarq Classic and Customarq Limited provides coverage for larger and smaller institutions respectively with blanket coverage for fine arts, rents and valuable papers.
• Through a suite of additional unique coverage programs, Chubb can also protect you from other exposures as well as through the traditional lines of workers compensation, excess/umbrella, automobile and boiler and machinery.
• Chubb can guard your organization and people from the effects of costly lawsuits associated with allegations of mismanagement brought against it by employees, shareholders, regulators, creditors and other stakeholders.
• Chubb offers protection solutions against such risks as employment dishonesty, forgery, burglary, destruction or vanishing of property, including additional coverage for the protection against crime associated specifically with mail fraud and computer systems.
• Chubb also has a solution targeted to insurance providers with assets less than $1 billion. ForeFront^TM offers a simple, integrated solution offering coverage to your worldwide operation through one simple application, integrating the coverage provided by the above-mentioned individual plans.