Chubb Introduces New Insurance Product Dedicated to Canadian Private Companies

TORONTO, July 18, 2016 /CNW/ -- Chubb has launched a modular insurance policy designed specifically for Canadian privately owned companies. ForeFront Portfolio addresses the broad range of liability risks faced by Canadian private companies in an increasingly risky and litigious business environment.

"We are excited to launch ForeFront Portfolio in Canada," said Cameron Rose, Senior Vice President for Chubb Financial Lines, Canada. "Chubb's new policy offers a modular and flexible insurance solution that allows private Canadian companies the ability to select from nine coverages with shared or separate limits to build a tailored portfolio of protection to address today's complex risks."

ForeFront Portfolio's comprehensive portfolio of coverages includes:

• Directors & Officers and Entity Liability – Offers protection for directors, officers and top management for decisions they make at the board level. Automatic run off for retired directors, crisis management and blanket for-profit outside directorship coverage is built into the form.
• Employment Practices Liability – Coverage is tailored to Canada's unique legal environment and includes a new Canadian Termination provision that outlines how a loss will be paid for an employment termination in Canada. Broad wording provides coverage for employment practices liability claims brought by past, present and prospective employees and independent contractors. ChubbWorks™, an online resource and risk mitigation tool, is also available for employment practices liability customers.
• Fiduciary Liability – Designed to help protect insureds against claims alleging a breach of fiduciary duty or an error or omission in the administration of employee benefit plans. Coverage has been expanded to include acts, errors or omissions made in an insured's settlor capacity which includes establishing, amending or terminating a trust or plan.
• CyberSecurity – Helps protect against both direct out-of-pocket losses incurred by the insured and liability resulting from network security intrusions and privacy violations. Customers can access Chubb's eRisk Hub, a cyber-risk management website, as well as discounted data breach consulting for both pre-breach and post-loss assistance.
• Crime – Protects against a broad range of fraud losses. Services include employee background investigations, discounted crime risk assessment services and a complimentary employee crime hotline reporting service for the first year.
• Kidnap, Ransom and Extortion – Reimburses expenses for kidnap, ransom or extortion payments, including hostage crisis, ransom delivery and more; includes access to the Ackerman Group, crisis management consultants, who can respond 24/7 on a global basis with expert advice and recommendations. Coverage also provides access to RISKNET™, an internet-based service that analyzes terrorism, criminal and political stability risks around the world.
• Miscellaneous Professional Liability – Responds to allegations including errors in performance of service; negligent acts or advice; failure to perform a service; failure of a third party, for whom your company is legally responsible, to perform professional services; breach of contract; and misrepresentation of services.
• Workplace Violence Expense – Coverage for expenses arising from post-incident crisis management services, including consulting and mental health specialists. Customers can access for free, where available, the first hour of risk management services from a workplace violence consultant up to three times per year; additional hours are available at a discounted rate.
• Employed Lawyers Liability – Helps protect against risks stemming from a broad range of in-house counsel activities including rendering personal legal services, notary public services, moonlighting services, and pro bono services.

ForeFront Portfolio, available electronically to brokers, is supported by Chubb's dedicated underwriting experts across Canada, who can offer customers additional tools, such as Chubb's Survey of Private Company Management Liability exposures and Canadian private company claims scenarios.

About Chubb  
Chubb is the world's largest publicly traded property and casualty insurance company. With operations in 54 countries, Chubb provides commercial and personal property and casualty insurance, personal accident and supplemental health insurance, reinsurance and life insurance to a diverse group of clients. As an underwriting company, we assess, assume and manage risk with insight and discipline. We service and pay our claims fairly and promptly. The company is also defined by its extensive product and service offerings, broad distribution capabilities, exceptional financial strength and local operations globally. Parent company Chubb Limited is listed on the New York Stock Exchange (NYSE: CB) and is a component of the S&P 500 index. Chubb maintains executive offices in Zurich, New York, London and other locations, and employs approximately 31,000 people worldwide. Additional information can be found at: new.chubb.com.

SOURCE Chubb

Jodi Dorman, [phone], [email protected]; Laurie Taylor, [phone], [email protected], http://www.new.chubb.com