Why did Federal Ins Co., a Chubb subsidiary, reimburse its insureds for \”theft\” losses if no criminal report was ever made by those insureds? They wouldn\’t do the same for a homeowner insured. I guess they\’re just a large, elitist carrier and didn\’t want to piss off these large media insureds. Also if the papers bought products from other-than-the-low-bidder – why is that \”theft\” and why would insurance cover it? Maybe Chubb should be investigated!
Theft coverage, particularly on a broad coverage product like that Chubb offers, does not require the insured to report to police. As a matter of fact, in many cases, the insured may not wish to attract public attention and does not report the theft.
No police report, however, does not mean there is not enough evidence to bring a civil lawsuit against the party at fault.
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Why did Federal Ins Co., a Chubb subsidiary, reimburse its insureds for \”theft\” losses if no criminal report was ever made by those insureds? They wouldn\’t do the same for a homeowner insured. I guess they\’re just a large, elitist carrier and didn\’t want to piss off these large media insureds. Also if the papers bought products from other-than-the-low-bidder – why is that \”theft\” and why would insurance cover it? Maybe Chubb should be investigated!
Theft coverage, particularly on a broad coverage product like that Chubb offers, does not require the insured to report to police. As a matter of fact, in many cases, the insured may not wish to attract public attention and does not report the theft.
No police report, however, does not mean there is not enough evidence to bring a civil lawsuit against the party at fault.