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, Paris and other locations, and employs more than 30,000 people worldwide.
Chubb in Hong Kong
With both general and life insurance operations, Chubb has been present in Hong Kong for more than 90 years via acquisitions by its predecessor companies.
Its general insurance operation in Hong Kong (Chubb Insurance Hong Kong Limited) is a niche and specialist general insurer. The company’s product offerings include Property, Casualty, Marine, as well as Accident & Health programs for large corporates, midsized commercial and small business customers. Over the years, it has established strong client relationships by offering responsive service, developing innovative products and providing market leadership built on financial strength.
Chubb Life has been in Hong Kong since 1976, and launched its Global Wealth Management business from Hong Kong in 2015. To meet the financial protection and wealth management needs of its broad range of customers, Chubb Life in Hong Kong (Chubb Life Insurance Company Ltd.) offers a range of life protection, savings, accident and health insurance solutions through agents and brokers. The company has been a recipient of various awards for marketing, product innovation and commitment in corporate social responsibility.
Accident & Health
- Group Business Travel
- Group Personal Accident
- Chubb Masterpiece Executive home insurance (No longer available in HK. Speak to us about alternatives from the Lloyds market)
- Personal Accident
- Travel Ease - singlie trip travel Insurance... see benefit table below
- Medical Guarantee Card - China
- Commercial Insurance
- Clean Tech,
- Information & Network Technology and
- Life Sciences insurances
- Directors & Officers insurance
- Cyber Insurance
- Professional Liability
- General Liability
- Financial Institutions
- Venture Captial Asset Protections
- Investment Management Professional Indemnity
- Financial Institutions Bond
- Bankers Professional Liability
Cyber Enterprise Risk Management (ERM) Version 2
Cyber-insurance is used to protect businesses and individual users from Internet-based risks where you could be sued for failing to safeguard people's personal data or defamation, or even some copyright breach. Risks of this nature are typically excluded from traditional commercial general liability policies or at least are not specifically defined in traditional insurance products.
Manufacturing is an example of a business sector that is being increasingly targeted by Cyber criminals.
The reason for this is that there could be a high incentive to pay a ransom – if the factory floor shuts down, the entire operation shuts down.
With the advent of robotics, artificial intelligence, and advanced manufacturing techniques, manufacturers are challenged to securely integrate older legacy systems.
Complex manufacturing systems can also be hard to restore — making them appealing to the criminals who can use the length of the outage to demand higher ransoms.
Hidden costs of a cyber attacks include such things as post-incident public relations and investigative expenses, and criminal rewards. After a cyber incident, the unexpected cost of business interruption is often not considered. Operational downtime, no matter how short, can impact the overall business greatly.
See 'Cyber Risks in Manufacturing' below
Checkout Chubb's ERM cyber-insurance policy provides coverage against losses such as data destruction, extortion, theft, hacking, and denial of service attacks.
Chubb's policy features a range of enhancements to cover you against cyber threats including:
- Insuring Agreement Extensions like Betterment and Emergency Incident Response as standard
- Business Interruption coverage for voluntary shutdown of systems
- Discovery based trigger for first party Insuring Agreements
Chubb Federal's Service Promise
Whether you are an owner occupier, tenant or landlord, it Chubb's MyHomeGuard provides worldwide coverage to cover your personal liabilities and personal effects.
Uniquely in Hong Kong Kong, this product will insure any domestic dwelling, whether house, apartment or village house, irrespective of its year of construction
Other Key features include:
• Cover for your contents are in storage facility and student hostel accommodation
• Worldwide personal effects and personal liability coverage
• Home contents cover up to HK$6,000,000
• Personal liability cover up to HK$10,000,000
• Building cover up to HK$20,000,000
• Optional cover is available for portable valuables.
• Wear and tear, rust, corrosion, gradual deterioration and depreciation
• Mechanical, electrical or electronic breakdown
• Domestic animals and other wildlife
• Malicious damage, vandalism
• Deliberate damage to property by you – knowingly committing fraud
Chubb's famous 'Masterpiece' policy was withdrawn from sale in 2009 and an arrangement with HSBC led to HSBC taking over most of the Chubb business with a similar product called 'Global Home' designed and re-insured via Hiscox Insurance in the UK. After the sale of HSBC's portfolio to AXA General in Hong Kong, the new solution offered by AXA is called 'ArtPLUS'.
Below are the policy documents related to the former Hong Kong Chubb Masterpiece.