Chubb has added small business insurance to cover risks faced by the food service industry to its digital platform – the Chubb Marketplace, which features a suite of products for businesses with up to $30 million in revenue.
According to the National Restaurant Association, there are more than 1 million restaurant locations in the United States, employing more than 15 million people – or about one in 10 working Americans. The restaurant industry is projected to see $863 billion in sales this year, representing an increase of more than 46 percent since 2010, and equaling 4% of the U.S. gross domestic product.
According to Jim Williamson, division president, Small Commercial Insurance, Chubb North America, Chubb provides access to insurance for restaurants, banquet halls, caterers, commissaries, food trucks, and more through the digital platform.
In addition to Chubb’s Business Owner’s Policy (Chubb BOP), coverage for small businesses within the food service industry is available on the Chubb Marketplace for the following lines of business:
- Workers’ compensation
- Commercial auto
- Cyber Enterprise Risk Management (ERM)
- Management and professional Liability, and
- Foreign package.
Agents can quote and issue policies through the platform.
Chubb Small Commercial products are available through Chubb’s exclusive network of independent agents and brokers for more than 1,000 classes of business in the following industries: artisan contractors, clubs and associations, cultural institutions, financial services, food services, healthcare offices, life sciences, manufacturers, real estate, retail stores, service businesses, technology, and wholesale businesses.
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