Chubb has introduced small business insurance for the food service industry.
In a statement, Chubb said that coverage is available through its digital platform, the Chubb Marketplace, which features a suite of products for businesses with up to $30 million in revenue.
According to the National Restaurant Association, there are more than one million restaurant locations in the United States, employing more than 15 million people – or about one in 10 working Americans. The restaurant industry is projected to see $863 billion in sales this year, representing an increase of more than 46 percent since 2010, and equaling four percent of the U.S. gross domestic product.
“The food service industry faces a diverse array of exposures – from customer and employee injuries to property damage and loss of business income,” said Jim Williamson, division president of small commercial insurance at Chubb North America. “Through our convenient and easy-to-use online marketplace platform, Chubb provides access to robust insurance solutions for restaurants, banquet halls, caterers, commissaries, food trucks, and more – all supported by our industry-leading capabilities in underwriting, claims, and risk engineering. We are excited to expand our available solutions for independent agents who serve small businesses in the food service industry.”
Chubb said that, in addition to Chubb's business owner's policy (“Chubb BOP”), coverage for small businesses within the food service industry is available on the Chubb marketplace for the following:
- Umbrella;
- Workers' compensation;
- Commercial auto;
- Cyber enterprise risk management (“ERM”);
- Management and professional liability; and
- Foreign Package.
“Through the Chubb marketplace, agents can quote and issue policies with ease, providing their clients with tailored and complete account solutions,” Mr. Williamson concluded. “For our insureds, Chubb delivers renowned claims, account services, and financial strength, along with the ability to grow as they do.”
Learn more: chubb.com.
Victoria Spears
Victoria Prussen Spears is senior vice president of Meyerowitz Communications Inc., a law firm marketing communications consulting company. A graduate of Sarah Lawrence College and Brooklyn Law School, Ms. Spears was an attorney at a leading New York City law firm before joining Meyerowitz Communications. She may be contacted at [email protected].