Product Oversight and Governance

Chubb Europe has developed a framework which governs the processes and controls to deliver and assure customer best interests.  Control standards and customer outcomes are established through the Conduct Risk Policy, related policies and guidance documents.  First line management implements the standards through operational procedures across the customer journey, from product development through to post-sale servicing.  The organisation structure includes a Product Council for each line of business and first line management activities are focused on the implementation and delivery of customer best interests through the processes.  There are dedicated conduct resources within the first line to support senior management carrying out their responsibilities.
 
Distribution arrangements are controlled through the Third Party Framework, with Chubb Conduct Risk standards applicable to outsourced service providers and appropriate Manufacturing and Distribution responsibilities agreed with Insurance Intermediaries under terms of business arrangements.