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Why package scalability is so critical for growing lower middle market companies

A scalable insurance product is critical to lower middle market companies

By: Michelle McLaughlin, Chief Underwriting Officer | Middle Market & Small Business Divisions

I’ve seen it many times, an agent has a lower middle market customer that is growing quickly. For instance, a technology company that is thriving in today’s digital commerce space. At first, the company needed a simple package product or business owner’s policy with standard property and general liability coverage. But as the company grew, so did their exposure and insurance needs. They increased the number of locations where they operate, they acquired another small technology company, and they even expanded outside the United States. As the company expanded, their risk changed and so did their insurance needs. Now they need additional coverages, higher limits, and global insurance protection.

That’s just one example, the U.S. economy is driven by businesses that grow — often rapidly — into middle market companies. But the insurance industry, as a whole, isn’t set up to efficiently deal with that growth and seamlessly cover the additional exposures.

That’s why Chubb decided to take a different approach to lower middle market companies. We designed the new Benchmarq Package to be completely scalable, so the business can get the coverage it needs, and the broker doesn’t have to search for new coverage. Instead, Benchmarq Package expands and evolves with the business.

With Benchmarq, customers can expect efficient underwriting decisions and quicker delivery of quotes and policies. When the insured’s needs change, endorsements can be added, and limits increased. The pricing is customized for each individual customer, so it is competitive at a smaller scale and as the company grows.

With the new Benchmarq Package, designing the right insurance program for lower middle market clients is easy. It offers unique features such as the ability to select business income on an actual loss sustained basis or a stated amount, select higher limits for catastrophe coverages like flood and earthquake, and provide insurance protection for property coverage overseas as well as employees traveling abroad with foreign voluntary workers’ compensation and foreign non-owned auto.


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Chubb is the marketing name used to refer to subsidiaries of Chubb Limited providing insurance and related services. For a list of these subsidiaries, please visit our website at  Insurance provided by ACE American Insurance Company and its U.S.-based Chubb underwriting company affiliates.  All products may not be available in all states. This communication contains product summaries only.  Coverage is subject to the language of the policies as actually issued.  Surplus lines insurance sold only through licensed surplus lines producers.  Chubb, 202 Hall's Mill Road, Whitehouse Station, NJ 08889-1600