July 20, 2017 by Canadian Underwriter
Chubb’s newly launched multi-line industry practice will focus on providing insurance products, service and risk management solutions for best-in-class large risk transportation clients in both the United States and Canada.
The formalization of the practice, within the insurer’s Major Accounts division, seeks to help organizations take a more holistic approach in managing exposures that pose a significant threat to their businesses, notes a statement issued Wednesday from Chubb.
It will help ensure brokers and risk managers in the industry “have access to a range of core coverages, including primary and excess casualty, as well as more specialized coverages, such as environmental, surety and cyber,” reports Chris Maleno, senior vice president of the Chubb Group and division president of North America Major Accounts.
“Large transportation companies are becoming more susceptible to a range of risks, including extensive auto, technology and supply chain liabilities, in addition to the regulatory and compliance exposures involved in the use of independent contractors,” Maleno says in the company statement.
“The formal establishment of this practice further supplements our commitment to expanding focus on industries that can benefit from more customized risk management solutions,” says Matt Merna, chief operating officer of North America Major Accounts Division.
The insurer’s Transportation Industry Practice offers a broad range of coverages and services to transportation companies with fleets in excess of 500 power units – for example, bus operators, rental car companies and manufacturers and distributors with large vehicle fleets – that are willing to utilize large retentions/deductibles.
Appointed executive vice president of the Transportation Industry Practice, Major Accounts Division, David Brown is leading the practice. Working out of New York, Brown has more than 28 years of underwriting and management experience in the large risk transportation segment.
Chubb has operations in 54 countries, including Canada; Chubb Insurance Company of Canada has offices in Toronto, Calgary, Montreal and Vancouver.