The increasing demand for housing and the scarcity of land for development has resulted in the rapid development of high-rise residential in Malaysia. In this type of development, there is always a Joint Management Body (JMB) / Management Corporation (MC) that takes care of the maintenance and management of the property and its facilities which includes insuring them against any risk exposure.
As a provider in the property risk market that focuses on underwriting insurance policies for high-rise buildings, Chubb has crafted a comprehensive insurance package, JMB Elite Package to cater to the varying risk management needs of the JMB/MC for these developments.
All Risk Coverage
Terrorism/Sabotage and Political Violence
Consequential Loss Coverage
Indemnity Cover Against Unintentional Privacy Infringement & Cyber Attack
Employment Practices Liability
Please refer to the policy contract for the full details of benefits, terms and exclusions that are applicable. The information provided here is a brief summary for quick and easy reference. The exact terms and conditions that apply are stated in the policy contract.
Chubb Coal Policy
Chubb’s commitment to do its part as a steward of the Earth is reflected in the company’s policy concerning coal-related underwriting and investment, which was adopted on July 1, 2019. With the new policy, the company will no longer underwrite the construction and operation of new coal-fired plants or new risks for companies that generate more than 30% of their revenues from coal mining or energy production from coal. Insurance coverage for existing coal-plant risks that exceed this threshold will be phased out by 2022, and for utilities beginning in 2022.