Distribution Channels

Chubb Online System Offers Quotes, Binders

The Chubb Group of Insurance Companies has created a Web-basedsystem to allow agents and brokers to obtain a rate, quote, orbinder for contractors' equipment risks with schedules up to $5million. Contractor's Equipment (CEQ) Express is available through@chubb, the secure Web site that provides agents and brokers accessto multiple products and services.

“Agents, brokers, and their commercial customers always arelooking for ways to facilitate doing business with Chubb,” says PatStoik, vice president of Chubb & Son and global commercialinland marine manager for Chubb Commercial Insurance. “With this inmind, Chubb has created CEQ Express to help agents and brokersservice and retain their valued customers.”

With CEQ Express, agents and brokers can:

o Obtain a competitive quote any time;

o Access saved quotes for new and existing risks;

o Bind insurance, subject to system approval;

o Arrange for endorsements or request cancellation of existingpolicies;

o Process renewals or non-renewals;

o Print quote letters, binders, and client invoices;

o Access CEQ Express specimen contracts and fact sheets.

“CEQ Express is the most efficient way for producers to servicetheir contractors' equipment clients,” Stoik adds. “Witharound-the-clock access, producers can do business any time andanywhere.”

The contractors' equipment policy from Chubb insures againstdirect physical loss or damage to machinery (including spare partsand accessories), equipment, and tools. Additional features includelimits of insurance for debris removal, fire department servicecharges, inventory or appraisals, pollutant cleanup, and fireprotection equipment refill. Additionally, Chubb will waiveinsurance deductibles of up to $10,000 for risks that haveantitheft systems or protocols for their equipment. CEQ Express isthe sixth online inland marine quote-binding system availablethrough @chubb.