BASKING RIDGE, N.J., Sept. 20, 2016 /PRNewswire/ -- Chubb has begun a nationwide rollout of its new business owner's policy, Chubb BOP. Crafted for small businesses, Chubb BOP incorporates broad protection for property and liability exposures, a supporting umbrella liability product, and the option to add workers' compensation, commercial auto, and management and professional liability insurance protection. Chubb BOP is supported by Fast TrackSM, Chubb's award-winning online small business underwriting platform that allows agents to quote and issue an insurance policy in just minutes.
The Chubb business owner's policy includes more than 80 tailored coverages and limits beyond industry standard policies, including a unique automatic blanket limit of insurance that ties together 12 essential property coverages and allows business owners to use their insurance dollars where they are most needed following a loss.
"Our agents have consistently expressed an interest for Chubb to offer a BOP, and Chubb Small Commercial Insurance is excited to expand our offerings to meet their needs. Chubb BOP combines outstanding coverage with cutting-edge technology to provide independent agents and brokers and small business clients with an exceptional insurance solution. This new product aligns with Chubb's focus on innovation and demonstrates our commitment to our agency partners and their small business clients," said Jim Williamson, Division President, Small Commercial Insurance, Chubb North America.
Catering to Small Business Needs
Chubb BOP is part of a new suite of innovative insurance products being released by Chubb's Small Commercial Insurance division, which was launched earlier in 2016 to serve independent agents, brokers, and their small business clients. Now available in over 40 states, with plans to be in all 48 contiguous states by year-end, Chubb BOP is sold through Chubb's exclusive network of independent insurance agents and brokers, and is currently available for more than 500 segments of business in the following industries: clubs and associations, cultural institutions, financial services, healthcare offices, real estate, retail stores, service businesses, technology, and wholesale businesses.
Chubb Small Commercial Insurance also provides workers' compensation, auto, foreign package, and management and professional liability insurance.
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: chubb.com.