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First Party Claims

In business long enough to have insured both the earliest industries and today's micro technology companies, we have the knowledge and the experience to find innovative ways to protect Chubb policyholders in areas as critical as distribution and as complicated as finance. This has also given us the acumen to handle policyholders' losses - whether they involve business or personal insurance policies for fine homes, art collections, jewelry or valuable automobiles.

The manner in which we treat each of our policyholders when handling a claim is fundamental to the way we do business. Once a claim is reported, our goal is to respond within 24 hours, beginning with a telephone call or a personal visit to assess the loss, understand our policyholder's concerns, explain the claim settling process and provide guidance on necessary next steps.

For a homeowner, the first step may be preventing further damage or securing temporary living quarters. For a business, it may involve finding ways to remain open or in production to meet deadlines. There will be times when our policyholders need emergency funds. In many instances Chubb can step forward immediately with an advance claim payment. In all other cases, it is our standard to issue payment within 48 hours of agreement to pay.

Prompt service is our goal. To help, we utilize sophisticated computer and telecommunications networks to enhance our ability to respond to policyholders' claims, especially during large-scale disasters. However, we view technology as an aid in serving policyholders, not as a replacement for personal contact.

We continually assess how we measure up to our policyholder's expectations following the conclusion of their first party claims. Approximately 97 percent of our policyholders have given us very satisfied ratings. One policyholder put it this way: "In a world filled with mediocrity, you provide an example that a company can still conduct its business with exemplary attention to its policyholders' needs and requirements."