Chubb Forms New Unit
NU Online News Service, July 1, 12:07 p.m. EST?The Chubb Group of Insurance Companies in Warren, N.J. said it has formed a new unit based in Simsbury, Conn. to develop specialty insurance products and services for privately-held companies and not-for-profit organizations.
Jane L. Hodgson, a vice president named to head the new group, will have responsibility for several lines of business targeting this segment, including directors and officers liability, employment practices liability, miscellaneous professional liability, fiduciary liability, Internet liability, crime, kidnap/ransom and extortion, and workplace violence expense coverage, the company said.
Ms. Hodgson said the new unit's aim is to enlarge Chubb's existing presence as a provider of insurance for privately-held companies and not-for-profit organizations.
The strategy, she said, is to expand "by offering a complete array of insurance products specifically tailored for their [organization's] needs."
Ms. Hodgson, who joined Chubb in 1990, previously developed and launched Chubb's ForeFront Portfolio, a flexible package of executive protection coverages designed exclusively for small to mid-sized private companies. She was also instrumental in launching Power Source, a similar executive protection coverage package designed to be sold by wholesale producers.
Jacqueline LaRock, a Chubb assistant vice president, was named not-for-profit underwriting manager reporting to Hodgson. Ms. LaRock will be responsible for the growth and profitability of Chubb's not-for-profit book of business, as well as for Chubb's community association program.
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