SYDNEY, May 21, 2018 /PRNewswire/ -- Chubb has expanded its appetite for its broker-distributed Business Pack Insurance product for small and medium enterprises in Australia. The expanded product now covers a total of 15 industry segments.
Chubb Business Pack aims to provide broad coverage for property and liability exposures to help protect business owners from a range of operating risks. The policy includes standard coverage for business interruption, general property damage, public and products liability, machinery and equipment breakdown, theft, money and tax audits.
In addition to the standard coverage, Chubb Business Pack also includes protection against cyber and environmental liability. Cover is available for cyber liabilities such as network security, privacy and data asset loss while the environmental protection component of the policy covers sudden, accidental and gradual pollution originating at the insured location.
Specifically tailored for Australian businesses with turnover of up to $10 million, Chubb Business Pack Insurance is available exclusively through insurance brokers. Using Chubb's purpose-built E-placement platform, available via Sunrise, brokers are able to go online to quote, bind, bill and issue Chubb Business Pack Insurance efficiently and conveniently.
In addition to expanding its Business Pack risk appetite, Chubb has also appointed Matthew Head as SME Manager, Australia and New Zealand to lead the company's dedicated SME team based in Melbourne.
Chubb's Country President for Australia and New Zealand, Jarrod Hill, said: "The market reception to our pilot launch of Chubb Business Pack Insurance has been very positive. Brokers have been eager for Chubb to expand its offering to the SME segment across more industries and we are pleased to deliver that today. Our value proposition is built on underwriting expertise, award-winning claims and excellence in customer service."
Matthew Head said: "Chubb recognises that every small business is unique. That is why we have crafted a customisable Business Package product to fit their insurance requirements. With the dramatic expansion of occupations Chubb will now cover, 70% of the SME market in Australia has the opportunity to become Chubb insured."
Chubb is the world's largest publicly traded property and casualty insurance company. With operations in 54 countries and territories, 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.
More information can be found at www.chubb.com/au