Chubb has introduced a new liability coverage suite to protect family offices and trusts in Canada. Tokio Marine and Nichido Fire Insurance is working with Pitney Bowes on interactive video technology to help homeowners prepare for natural disasters. Kinsale Insurance has released a new D&O product for hard-to-place private companies/organizations.
Chubb has launched a new suite of insurance coverages to help high-net-worth clients utilizing family offices and trusts in Canada manage their liability exposures.
The insurer said its Family Office Amplifier product addresses the wide spectrum of family office risks, including professional liability, trustee liability and employment practices liability.
Chubb said that if the policy is renewed, claims can be reported up to 180 days after the policy has expired. The insurer also noted that it will advance defense costs to the insured within 90 days after a claim has been submitted and all requested information has been received.
Tokio Marine and Nichido Fire Insurance Co. has partnered with global technology company Pitney Bowes to provide personalized interactive video technology that helps homeowners in Japan prepare for natural disasters.
Customers with appropriate insurance coverage will receive a personalized interactive video that can be viewed on their mobile phone, computer or tablet. The EngageOne Video delivers four critical areas of information for homeowners:
- Education about how a homeowner can prepare for a typhoon or severe storm.
- Detail of each customer’s individual contract to review insurance coverage.
- Contact information for insurance agents in case of emergency.
- Contact information for insurance representatives for updating an insurance contract.
Source: Pitney Bowes
Kinsale Insurance Co., which targets hard-to-place and distressed accounts, has released a new directors and officers product for private companies/organizations.
The new D&O product can be considered on a standalone basis or packaged with the insurer’s employment practices liability and fiduciary liability products.
Kinsale said the coverage is written nonadmitted on a claims-made and reported coverage form with up to $5,000,000 limit capacity on a primary basis.
Coverage options are available for additional executive limits, crisis management response, derivative demand costs, punitive damages, and more. Kinsale said the coverage can be tailored to fit an individual account and that prior acts can be considered on most accounts.
The Kinsale Management Liability Division targets accounts that may have a poor loss history, problematic financials, or that operate in tough industries.Target classes include Construction, Consulting Firms, Manufacturing (including pharmaceutical), Oil & Gas, Property Management, Technology Firms, Transportation and Wholesalers/Distributors.
Source: Kinsale Insurance Co.