Skip to main content
Suggested Searches
Quick Links

The unspoken package gap

The unspoken insurance gap in package products for lower middle market companies

By: Ben Rockwell, Division President | Commercial Insurance

In the commercial insurance business today, there is an underacknowledged gap in package products designed for lower middle market companies. While many carriers may have a Business Owner’s Policy (BOP) for small businesses and offer fully customized package products for mid-size companies, there isn’t as much available to meet the needs of the group that straddles these two — growing lower middle market companies.

This segment has long presented a challenge for agents and brokers. When small businesses expand into lower mid-sized ones — often rapidly, with the addition of products, services, and employees — their exposure expands as well. Without a package product that can grow with them, their agents and brokers may need to search for new coverages — potentially with new carriers. Or, may even need to push the businesses to upgrade to a policy with coverages they’re not interested in yet or settle for a policy that doesn’t provide enough protection. 

What lower middle market companies need is a product that allows them to cover additional exposures as time goes on, at a pace that matches their growth. With Chubb’s new Benchmarq Package, lower middle market companies only need one product for their lifetime. Tailor-made for lower middle market companies, Benchmarq Package makes finding the right coverage easy for the broker or agent, helping them stay one step ahead. It also offers a number of unique benefits.

First, it gives the agent or broker options. With Benchmarq Package, the agent or broker has the flexibility to present a variety of coverage options, showing different limits and endorsements.

Benchmarq Package is also completely scalable and can evolve to cover additional risks as the clients’ business grows. We can even globalize the package if the business expands outside the U.S. Because it is so scalable, this is the only product these companies will ever need.

In addition, unlike with other carriers, our underwriters have the tools they need to make quick decisions, so agents, brokers, and their clients don’t need to wait for weeks to finalize an insurance policy. In the world of insurance, speed and ease are extremely important.

With Chubb's Benchmarq Package, brokers and agents can meet the needs of a quickly expanding lower middle market client with a flexible, scalable, and accelerated package product.  


Get the Details

Take a deeper look at our new package product.

Additional resources

Find an Agent

Speak to an independent agent about your insurance needs.

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.