A Controlled Master Program offers distinct advantages over a patchwork of policies approach.
- Close insurance gaps with the difference in conditions / difference in limits provision of the master calibre policy while meeting local country requirements.
- Purchase admitted insurance to gain access to creative insurances that are common in certain countries (e.g., extended products liability and pure financial loss) and existing terrorism pools.
- Coordinate the purchase of all multinational insurance policies through one carrier to achieve economies of scale that will eliminate duplications and likely reduce insurance costs.
- Attain tax advantages. In most foreign countries, locally paid premiums are tax deductible, and loss payments are tax exempt.
- Ensure subrogation benefits by purchasing local insurance.Many countries require admitted insurance in order to subrogate a loss.This can potentially lower insurance costs.
Outstanding Client Service
- Manage claims consistently with worldwide claims coordination. A Master Controlled Program streamlines settlements by having the same insurer handle admitted and nonadmitted claims.
- Extend loss prevention programs and business practices with worldwide loss control coordination.Our global network of loss control professionals is well-versed in local regulations and North American standards.
Service and Strength
Chubb Multinational Solutions includes the industry’s leading commercial underwriters, knowledgeable in a broad range of disciplines and geographic regions. We know world markets inside out — from environmental impairment liability in Germany to pure financial loss in France — and stay informed about political and economic developments that can indicate the need for new or updated insurance. In addition, Chubb provides the coordination advantage of one underwriting group dedicated to overseeing all the foreign, as well as domestic, components of your multinational insurance program.
Our innovative portfolio of products is designed to address the casualty needs of companies at any stage of development engaged in worldwide business.