Chubb Introduces New and Modernized Package Product for Commercial Clients
WHITEHOUSE STATION, NJ, May 21, 2021 / PRNewswire / – Chubb has launched Benchmarq Package, a new low-mid-market insurance product that sets the standard for package policies that are geared towards broader and more scalable coverage and efficiency. Benchmarq offers an expanded basic insurance offering for both property and liability insurance, resulting in insurance coverage that is more comprehensive than the typical industry packages. While Benchmarq’s basic offering is optimal for smaller or less complex package risks, coverage can also be expanded with higher limits and additional notices to create fully customized solutions for the unique and evolving needs of customers in an underserved medium-sized business.
“Benchmarq is helping to fill a void in the lower middle class that is not normally served by a traditional package or business owner insurance policy,” he said Ben Rockwell, Department President, Chubb Middle Market. “Chubb’s new modernized package expands our reach in the midmarket and enables us to offer the prestigious insurance services and offerings for which we have become known to an even broader range of customers at a time when engagement in this area continues to emerge . We believe agents and brokers will benefit from the scalability, faster quote and streamlined product design – all backed by Chubb’s specialist underwriting expertise, exceptional risk engineering and claims services, and global reach. “
Benchmarq’s key product features include robust and scalable property and general liability insurance to protect customers from the risks they are most likely to face in the industries they specialize in including: education, food, manufacturing, professional services, real estate, Retail, technology, wholesale and wineries with planned expansion into other industries.
Benchmarq is currently available through Field Underwriters in 29 states. More are expected to be available in the coming months. Benchmarq will be available on Chubb’s award-winning digital platform, the Chubb Marketplace, in the fall of 2021. The Chubb Marketplace was designed to modernize the placement and service of insurance for small businesses. For more information on the Chubb Benchmarq Package product, visit www.chubb.com/benchmarq.
About Chubb
Chubb is the world’s largest publicly traded property and casualty insurance company. With offices in 54 countries and territories, Chubb provides commercial and personal property and casualty, casualty and supplemental health insurance, reinsurance and life insurance to a diverse group of clients. As an underwriting company, we evaluate, assume and manage risks with insight and discipline. We look after and pay our claims fairly and quickly. The company is also characterized by its extensive range of products and services, its broad sales capacities, its exceptional financial strength and its worldwide local activities. Parent company Chubb Limited is listed on the New York Stock Exchange (NYSE: CB) and is part of the S&P 500 index. Chubb has offices in Zurich, New York, London, Paris and at other locations and employs around 31,000 people worldwide. For more information, please visit: chubb.com.
SOURCE Chubb
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