Chubb said in a statement that the new increased capacity would be available to brokers and their clients internationally and was designed to meet the needs of large, multinational businesses with growing global exposures.
Chubb has increased its terrorism and political violence capacity per account by 300% in the last two years.
Client demand for comprehensive cover
“The increase in capacity to $150 million demonstrates our commitment to responding to growing client demand for certainty and comprehensive cover across the full range of perils," according to Piers Gregory, terrorism and political violence underwriting manager, overseas general insurance at Chubb. "As the needs of our clients become increasingly international, Chubb is one of the few insurers with the multinational capability to help them design the compliant global insurance programs that they need in an ever more globalized operating environment.”
Related: Dealing with terror
Victoria Prussen Spears, Esq., (email@example.com) is associate director of FC&S Legal, editor of the Insurance Coverage Law Report, and senior vice president at Meyerowitz Communications Inc.
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