Chubb’s Launches Business Pack Insurance for Australian SMEs

Chubb has launched a package insurance solution called Chubb Business Pack Insurance for small and medium enterprises in Australia.

This solution aims to provide broad coverage for property and liability exposures to help protect business owners from a range of operating risks, including 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 Insurance also includes protection against cyber and environmental liability, the company said in a statement. 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 A$10 million (US$8 million), Chubb Business Pack Insurance currently serves the following industry segments: office & professional services, healthcare & medical surgeries, retail and trades & services. Chubb said these occupations account for up to 35 percent of the SME market in Australia.

Chubb has plans to extend the Business Pack risk appetite to include occupations from other industries.

Chubb Business Pack Insurance is available only through the broker distribution network. Using a purpose-built, E-placement platform — Sunrise Exchange – brokers are able to quote, bind, bill and issue Chubb Business Pack Insurance online efficiently and conveniently.

“More than 500 brokers attended our launch events and feedback was overwhelmingly positive. They appreciate that our policy is a flexible solution, with robust coverage options available exclusively through the broker distribution channel,” said John French, Chubb’s country president for Australia and New Zealand.

Source: Chubb

Topics New Markets Pollution Australia Chubb