Chubb Expands Insurance Solution in Canada to Address Exposures Faced by Today's Private Equity Firms

PrivateAEquity+(SM)Aextends coverages,AblendingAProfessional, Management and Employment Practices LiabilityAcoverage,AtoAinsure private equityAfirmsAin Canada forAaAbroad range ofAactivitiesAand servicesTORONTO, April 3, 2019 /CNW/ --AChubb is now providing expanded insurance coverage through its Private Equity+SM offering to address the unique risks of Canadian private equity firms. Designed as a comprehensive solution, these extended offerings help transfer and mitigate many of the private equity firms' most significant liabilities by combining four management liability coverages including management (Directors and Officers), outside directorship, professional services (Errors and Omissions), and Employment Practices Liability in one policy.
Chubb Expands Insurance Solution in Canada to Address Exposures Faced by Today's Private Equity Firms
"PrivateAequityAfirmsAin Canada face a variety of unique and personal liability exposures due to their wide range of responsibilities. As a result, they need a comprehensive insurance product that addresses their ever-evolvingAactivities," saidACarol McLellan, Vice President, North America Financial Lines, Chubb. "Chubb understands private equity exposures and has a long history serving the private equity marketplace, which enables us to deliver market-leading coverage enhancements, including the coverage extensions now embedded in this unique new product."ASomeAofAtheseAcoverageAextensionsAinclude:

PortfolioAcompany pre-acquisitionAdefenceAcostsAthatAmayAariseAfrom lawsuits brought against the private equity firmAasAcontrollingAshareholder ofAa portfolioAcompanyA- even when the alleged acts of the portfolio companyAprecede the privateAequityAfirm'sAacquisitionAdate

CrisisAcostsAincurredAby the private equityAfirm,Aincluding hiringAa public relationsAfirm toAmitigateAthe potentialAreputationalAdamage resultingAfrom theAterminationAofAa key executive

DefenceAcostsAincurred byAa privateAequity firmAexecutiveAasAaAresultAofAhisAor her being interviewed by regulatoryAenforcementAagencies

ChubbAbeganAofferingAcoverageAtoAprivateAequityAfirmsAinA1997,AandAwasAoneAof the first insurers to develop integrated management andAprofessionalAliability insuranceAproductsAtailoredAforAthisAmarket."Private equity firms select Chubb to be their primary insurance carrier based on our breadth of experience, financial strength, exceptional service capabilities and fair claims handling proficiencies," said McLellan. ForAmoreAinformationAonAPrivateAEquity+SM,Aclick here,AorAcontactAyourAlocal Chubb broker to craft an insurance program to meet yourAfirm'sAuniqueAand evolvingAneeds.About Chubb
Chubb is the world's largest publicly traded property and casualty insurance company, and the largest commercial insurer in the United States. 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 A30,000 people worldwide. Additional information can be found at: Insurance Company of Canada has offices in Toronto, Calgary, Montreal and Vancouver and provides its products and services through licensed insurance brokers across Canada. For additional information, visit: Chubb
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