Commercial Insurance

Project Cargo Insurance

As global needs for energy, transport and industrial infrastructure continue to rise, so do opportunities for interested parties to exploit natural resources. If you’re in the business of supplying or transporting heavy-lift machinery to meet those needs, or investing in clean power in developed countries, this policy will protect against loss, damage and delays.

Coverage Highlights

The areas it covers

Our insurance policy covers projects that include:

  • Power plants including gas, coal and nuclear
  • Green energy including solar, wind, hydro and bio mass
  • Petrochemical, paper and pulp, ferrous and non-ferrous plants
  • Bridges and buildings

The parties it covers

Today’s supply chain for a modern infrastructure project can involve numerous manufacturers from several countries, differing contractors and a complicated array of supply routes involving any combination of land transport, sea, river, rail, road or air.

Our Project* Cargo Insurance provides clients with the protection to meet the needs of all parties concerned, including:

  • Owners and principals
  • Managing contractors and main contractors
  • Contractors and subcontractors
  • Manufacturers and/or suppliers
  • Banks and/or financial institutions

* Project cargo is defined as a set of shipments of an agreed value over a set period of time for a construction project.

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.

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