SHANGHAI, CHINA - Media OutReach - 24 October 2018- Chubb announced today the launch of its enhanced cargo insurance product targeting importers and exporters in China. Called Chubb Cargo PlusSM, it offers broad coverage for both international and domestic cargo movements.
Through Chubb Cargo Plus, customers will enjoy additional benefits for local cargo transportation and wider cover for international cargo movements compared with a conventional cargo insurance policy. The major benefits* of Chubb's enhanced cargo insurance include:
- Debris removal options up to USD1 million
- Exhibition and display cover of up to USD250,000
- Air freight replacement for imports up to USD100,000
- Tools of trade cover of up to USD25,000
- Resecuring costs and expenses cover of up to USD5,000
In addition, customers will have access to CargoAdvantage®, Chubb's award-winning web-based system which provides a cargo insurance certificate for an international shipment within minutes.
According to Mr. Kevin Bogardus, Chubb's Country President for China, "With over 200 years of experience in the marine industry, Chubb has established a reputation for integrity, innovation, and expertise. Today, we build on our tradition of excellence and deep industry knowledge to create market-leading solutions, backed by a strong commitment to our clients. The launch of the enhanced Chubb Cargo Plusbears testament to our dedication to meet the evolving needs of our customers in a region which offers a myraid of opportunities to grow our Marine portfolio in China."
According to Mr. Anthony O'Brien, Regional Head of Marine for Chubb in Asia Pacific, "Customers expect excellent service and innovation which Chubb is committed to deliver since we are dedicated to superior underwriting and risk management services. Our robust CargoAdvantage system makes cargo insurance transactions frictionless for our customers. This is backed by our worldwide network of claims professionals, recognised for their efficient claims handling and expertise to assist our customers when the need arises."
For more information about Chubb Cargo Plus, please visit http://www.chubb.com.cn/cn-en/business/cargo-plus.aspx.
*Product highlights are summaries only. Please see the actual policy for terms, conditions and exclusions.
Chubb is the world's largest publicly traded property and casualty insurance company by market capitalization. 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 and other locations, and employs approximately 31,000 people worldwide.
In 1994, Chubb set up its first representative office in China. A branch company was subsequently established in 2000 in Shanghai, which was converted to a wholly owned subsidiary upon the approval of the China Insurance Regulatory Commission. The company currently has operations in Beijing, Shanghai, Jiangsu and Guangdong provinces, with plans to commence operations in other regions in the near future. Additional information can be found at: www.chubb.com.cn.