How did you become involved with Chubb’s Financial Institutions Industry Practice?
My career with Chubb stared in Sydney, Australia in 1989. I was a trainee under the Excess umbrella. Over time, as my skills developed, I added more and more financial institutions to our book of business, and eventually it made sense to create a Financial Institutions department in Sydney. Soon, the book was large enough that I was doing Financial Institutions full time. I did that in Sydney for eight years, then I transferred to Philadelphia to do the same – a big move! I rose up the ranks and now I lead the Financial Institutions Industry Practice. I’ve worked solely on financial institutions now for 30 years.
What is the value of having a dedicated Financial Institutions Industry Practice?
Our underwriters only do work for financial institutions, so they understand the exposures, the risks, and how to structure an insurance program specifically for this market. The depth of our expertise means that we’re willing take on unique exposures and create custom solutions for our customers that make sense for everyone. We also offer specialized products tailored specifically to financial institutions, such as foreclosure coverage, repossessed auto, trust insurance, and leasing, among others.
What differentiates Chubb’s Financial Institutions Industry Practice from our competitors?
We can underwrite financial institutions from a single location asset manager to the largest financial institutions in the world. Our solutions are fully scalable, meaning that whether you’re a small business, large account, or something in between, we’re able to offer coverage that makes sense on both the property casualty and financial lines sides of the business. We also work across divisions on a fairly regular basis, which means we can offer D&O, cyber, and more as part of a customer’s solution. A lot of our competitors can’t or don’t do that.