Chubb introduced a new insurance product for the lower middle market segment. Utica National Insurance Group is partnering with two companies to provide crisis public relations services to its school policyholders.
Chubb has introduced a new insurance product, Benchmarq Package, for the lower middle market segment.
Benchmarq includes an expanded base coverage offering in both property and liability, resulting in insurance protection that Chubb said is more inclusive than the typical industry package policies. While Benchmarq’s base offering is optimal for smaller or less complex package risks, coverage can also scale up through higher limits and additional endorsements to create fully customized solutions for clients’ unique and evolving needs in an underserved middle market space.
Some of Benchmarq’s key product features include robust and scalable property and general liability coverages to protect clients from the risks they are most likely to face within the industries they specialize, including: education, food, manufacturing, professional services, real estate, retail, technology, wholesale, and wineries, with planned expansion into additional industries.
Utica National Insurance Group and its member companies have partnered with Empathia, Inc. to provide crisis counseling services, and The Castle Group to provide crisis public relations services to its school policyholders.
According to Brian Saville, Utica National Educational Institutions resident senior vice president, the services can be available for policyholders after the occurrence of a traumatic event.
Utica National Insurance Group provides personal and commercial insurance and has been insuring public and private schools for nearly 50 years. Utica’s coverage for educational institutions is available to public schools, charter schools, Montessori K to 8th grade, junior/community colleges and small colleges.
Empathia offers employee assistance, student support, crisis management and workplace culture optimization. Empathia works with organizations ranging from Fortune 500 companies to multi-campus academic institutions.
The Castle Group has crisis management experience leading clients through crises related to: acts of God, violence, COVID-19, freedom of speech, Title IX, discrimination, sexual assault and harassment, diversity, equity and inclusion, executive misconduct, bankruptcy, data breaches, regulatory investigations, litigation, and financial malfeasance, among others.
Source: Chubb, Utica National