Chubb News

N.Y. Appellate Court: Insurer Liable For COVID Shutdown of Tina Turner Play

Producers of a Broadway play based on the life of pop star Tina Turner, which was shut down because of COVID-19, may pursue its business-interruption claim despite a communicable disease exclusion in the policy, a New York appellate court ruled. …

Pickleball Explosion in Florida Creating New Hits and Misses for Insurers, Agents

If the insurance industry hasn’t noticed, the sport known as pickleball is exploding across the country, especially in Florida, where more than 15 indoor clubs, replete with air conditioning, cafes, locker rooms, video training and other amenities are planned or …

Insurers Hope to Head Off Claims With IoT Devices

Wouldn’t it be nice, if, instead of relying on adjusters and restoration companies to surmise how much damage was actually caused by a water leak, an insurer could stop the leak almost before it starts. That’s now the reality for …

Claims People: Chubb, Frankenmuth, MS Amlin, Sedgwick

Chubb Names Head of North America Claims Chubb has appointed Kevin Rampe as head of Chubb North America claims. He succeeds Bill Hazelton, who has been appointed to a newly created role centered on a number of strategic initiatives in …

Chubb CEO Says Company No Longer Looking to Buy Hartford Insurance

NEW YORK — Chubb Ltd’s chief executive officer on Wednesday crushed the idea of buying its smaller insurance rival, the Hartford Financial Services Group Inc, saying “the chapter with the Hartford is closed.” Chubb had said last week it was …

2nd Circuit: Insurer Must Pay for Merchandise Lost in Warehouse’s Bankruptcy Sale

Chubb’s Federal Insurance Co. must pay more than $2 million to a fabric company that lost 22 trailer loads of merchandise when the Mississippi warehouse company that stored it filed for bankruptcy, sold the goods and pocketed the proceeds. A …

The Hartford Rejects Chubb’s $23 Billion Buyout Offer

The Hartford today announced that its board of directors has unanimously rejected rival insurer Chubb’s unsolicited proposal to acquire The Hartford for $23.24 billion. The Hartford said its board determined that entering into discussions regarding a strategic transaction “would not …

Chubb Exploring Purchase of Rival Hartford, Sources Say

Chubb Ltd., the global insurer led by Evan Greenberg, is exploring an acquisition of Hartford Financial Services Group Inc. in what could be one of the industry’s biggest deals in years, people familiar with the matter said. The New York-listed …

Claims Business: Tractable, Charles Taylor and Chubb

Tractable Inks Deals with The Hartford, Mitchell Tractable, a London-based insurtech that uses artificial intelligence to create damage estimates from photographs, has expanded its presence in the US property and casualty market with two deals announced this week. Tractable has …

Movie Producer Sues Chubb for Breaking Renewal Promise Over COVID-19

A movie production company that signed Ben Affleck to star in its latest “large-budget action thriller” accuses a Chubb insurer of violating longstanding custom and practice by refusing to extend a $58 million insurance policy after the film was delayed …