Chubb enhances financial lines covers in UK and Ireland

Property/casualty insurer Chubb has enhanced its financial lines covers in the UK and Ireland.

The company has revised its Elite directors and officers (D&O) and Elite commercial crime cover.

"Our enhanced financial lines wordings provide what is arguably one of the most comprehensive D&O and financial crime covers in the UK market, with new extensions and added-value services that set Chubb apart from competition," said Grant Cairns, financial lines manager for Chubb in the UK and Ireland.

"We are a global leader in financial lines but we do not stand still. Today’s launch underlines our commitment to continue working with our brokers and partners to ensure that our offering is fit for purpose and responds to their rapidly evolving needs," Cairns added.

The Elite D&O, which is designed to cover the risks faced by executives serving in both private and listed middle market companies, large corporates and multinationals across the UK, Ireland and beyond. It now includes extended definition of investigation, broadened pre-investigation costs extension, preservation of Side A limit, insuring clause for subpoena costs, M&A claims and regulatory crisis costs extension, and insolvency hearing cover.

Its Elite commercial crime cover will now include policy limit for property/cyber extortion financial loss, recovery costs for incident response, affirmative social engineering cover, protection for third parties with an insurable interest, expenses limit in addition to main policy limit, and defence costs to defend legal liability for loss of client money, securities or property.

It provides cover to businesses of all sizes, as well as to their clients if the business is liable for their assets, securities or property, in the UK and Ireland that suffer financial loss due to criminal or fraudulent activity by an employee or third party.

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