Tag: Chubb

From Helene to Milton: Tampa’s Unprecedented Hurricane Season

John B.
hurricane milton track

Hurricane Milton – A Looming Threat to Tampa As Hurricane Milton barrels towards the Florida coastline, residents of Tampa are bracing for what experts warn could be a historic event. This fierce Category 4 hurricane is expected to make landfall tomorrow, potentially delivering a powerful storm surge and catastrophic winds to an area not directly hit by a major hurricane since 1921. Current Status of Hurricane Milton Originally a Category 5 storm, Hurricane Milton has slightly weakened but remains a formidable threat with sustained winds of 145 mph. The National…

Read More

Ben Affleck movie insurance battle takes off following production delay

Nordstrom
Ben Affleck movie insurance - Ben Affleck

The film’s producers are in a coverage fight with their insurer, Chubb, over pandemic postponements. Hollywood producers have launched a battle with insurer Chubb over a Ben Affleck movie insurance policy’s coverage of pandemic delays. The producers sued the insurer last week over its refusal to extend the policy’s coverage for the delay. The Ben Affleck movie insurance policy is set to expire in October, but the film’s production has been delayed due to the COVID-19 pandemic. As a result, the producers sough to extend their insurance coverage for the…

Read More

Chubb CEO calls COVID-19 coronavirus biggest event in insurance industry history

Nordstrom
Insurance Industry History COVID 19 Mask

Evan Greenberg cautioned that the pandemic’s impact will cause insurers to face their largest challenges. Chubb Ltd Chief Executive Officer Evan Greenberg released a statement warning that the coronavirus will be the largest event in insurance industry history. The insurance company recorded $13 million in losses linked to COVID-19 during the Q1 2020. Greenberg stated that “this event will be the largest event,” in insurance industry history, on an earnings call in which he shared Chubb’s first quarter results for 2020. The CEO pointed to both the direct impact of…

Read More

Insurance companies facing rising water damage claims

G. Turner
Water Damage Claims - Houses in flood waters

A new report shows that leaks are becoming increasingly problematic for homeowners and insurers. A new Verisk Analytics report from its ISO unit has found that insurance companies are taking an increasing number of water damage claims. At the same time, other forms of claim have been falling in frequency. The report determined that one in 50 homeowners insurance policyholders file a leak claim each year. Water damage claims affect one in every 50 homeowners insurance policyholders every year, according to the research. The study involved data from 2013 through…

Read More

Gun owners insurance policies thin out following Florida shootings

Marc
gun owners insurance

MetLife and Chubb have severed their ties with the National Rifle Association. The Florida shootings may make it more challenging to purchase gun owners insurance. Both Metlife and Chubb have made decisions to sever their relationships with the National Rifle Association. Chubb announced it would no longer underwrite National Rifle Association branded insurance policies. The company stated that its gun owners insurance underwriting would cease under the NRA’s brand. That coverage is designed to assist gun owners in paying their legal costs should their firearms be used in self defense.…

Read More