Chubb Adds Online Tool for Contractors’ Equipment Risks

October 5, 2005

The Chubb Group of Insurance Companies has created an online system that enables agents and brokers to quickly obtain a rate, quote or binder for contractors’ equipment risks with schedules up to $5 million.

Contractor’s Equipment Express, or CEQ Express, the sixth online Inland Marine quote-binding system available to agents and brokers through @chubb.

“Agents, brokers and their commercial customers are always looking for ways to facilitate doing business with Chubb,” said Pat Stoik, vice president of Chubb & Son and Global Commercial Inland Marine Manager for Chubb Commercial Insurance. “With this in mind, Chubb has created CEQ Express to help agents and brokers service and retain their valued customers.”

With CEQ Express, agents and brokers can quickly:
* Obtain a competitive quote any time;
* Access saved quotes for new and existing risks;
* Bind insurance, subject to system approval;
* Arrange for endorsements or request cancellation of existing policies;
* Process renewals or non-renewals;
* Print quote letters, binders and client invoices;
* Access CEQ Express specimen contracts and fact sheets; and
* Receive policies within 72 hours of binding.

Chubb’s contractors’ equipment policy insures against direct physical loss or damage to machinery (including spare parts and accessories), equipment and tools. Additional features include limits of insurance for debris removal, fire department service charges, inventory or appraisals, pollutant cleanup and fire protection equipment refill. Additionally, Chubb will waive insurance deductibles of up to $10,000 for risks that have anti-theft systems or protocols for their equipment.

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