Commercial Property, Liability, Crime

Nuts & Bolts: The Chubb Group of Insurance Companies has updated its Customarq Classic property policy. Chubb’s Customarq Classic offers U.S. and Canadian commercial customers a choice of monoline property insurance protection or a package of property, general liability and crime insurance in one policy. Customarq Classic’s all-risk property policy can insure both U.S. and foreign exposures, including differences in conditions and/or limits created by policies issued in foreign countries. Impairment of computer services is a new type of insurance that addresses emerging first-party exposures presented by the Internet and customers’ increasing reliance on electronic information in their business activities.

Dollars: The automatic blanket limit has been increased from $250,000 to $500,000 at no extra charge. Customers can also purchase a blanket limit of $1 million or $2 million for an additional premium, subject to underwriting. Several new property coverages have been added to the automatic blanket limit.

Carrier: The Chubb Group rated “A++.”

States Available: All except Arkansas, Hawaii, Louisiana, Nebraska, North Dakota, Texas, Virginia and Washington.

Contact: Local Chubb branch office or Paul Lewis at plewis@chubb.com.