Chubb, Zurich North America, and National Indemnity Co. have introduced an excess casualty facility offering up to $100 mn in lead excess casualty insurance capacity on a claims-made basis.
This coverage targets large national and multinational companies and will begin underwriting immediately, with policies effective July 1.
The facility offers excess umbrella liability coverage underwritten by Chubb and Zurich, with National Indemnity, a Berkshire Hathaway lead reinsurer, providing support. Coverage will be available within the United States.
The initiative allows clients, brokers, and agents to manage insurance more efficiently. Benefits include a single access point through Chubb or Zurich, administrative and cost savings, consistent coverage terms, and specialized claims handling.
John Keogh, president and chief operating officer of Chubb Group, stated that the current U.S. litigation climate for large companies is becoming more aggressive.
The litigation environment for large companies in the U.S. is increasingly hostile, and business as usual is not the answer
John Keogh, president and chief operating officer, Chubb Group
“This initiative, between three of the largest, most-experienced insurers in the large account market, is our effort to bring a new approach in terms of insurance protection and claims capability, that best serves those clients who are more and more often the target of legal abuse,” said John Keogh, president and chief operating officer, Chubb Group.
He added that the collaboration among the three insurers introduces a practical response, focused on reliable insurance protection and effective claims service for companies increasingly targeted by legal action.
