Financial Lines

D&O Management Liability capabilities:

• Both Primary and Excess available
• No capacity cutting in hardening market
• Strong Multinational capabilities covering global presence

Financial Lines Appetite:

• Broad appetite across wide range of industries
• Only areas of caution around certain business activities within:
  –Hospitality –travel, transport, certain retail industries and care sector
  –PTL, Crime, K&E can be written only with one other supporting line of FL business
  –EPL minimal appetite but can be written only with two other supporting lines of FL business

PI Risk Appetite – Preferred:

• Accountants
• Advertising agencies
• Advertising consultants
• Architects
• Broadcasters
• Design and construct (excess layer)
• Design professionals
• Graphic design
• IT consultants
• Management consultants
• Film and TV Producers
• Professional bodies/Institutes
• Public relations consultants
• Publicity managers
• Publishers
• Web design consultants
• Web marketing services

Standard:

• Chartered surveyors
• Engineers
• Heavy engineers
• Insolvency practitioners
• Primary Design & Construct (AGG only)
• Schools/colleges

Restricted:

• Actuaries
• Debt collection
• Independent Financial Advisors
• Insurance Brokers
• Investigative journalism/ documentaries
• M&A/tax/auditing
• Primary Solicitors
• Reality T
• Renewable energy
• Valuation surveyors
• Primary and excess layer solicitors

PI Capabilities:

• Refreshed online platform for miscellaneous and accountants
• Global accounts / local policy capability
• In-house claims team
• Collateral warranty service for A&E, D&C and Surveyors
• Minimum premiums of £10k for miscellaneous, media and accountants
• Minimum premiums of £25k for D&C, RICS and A&E

Cyber:

• Appetite for a range of trades both online and offline (prohibited trades include political risks, crypto & ICO risks, digital wallets, financial exchanges, data aggregators, adult content, any risk with more than 30% coal burning or similar operations, airlines and airports, med-tech)
• Full 1st and 3rd party cover available.
• Continue to see rate increase on renewals driven by increased claims costs.
• Offline min premium of £10,000 for new business (Lower on ignite)
• Easy to use online platform for majority of trades below £50m turnover.
• Claims data and trends publicly available at https://chubbcyberindex.com/
• Looking for ‘best in class controls’ including MFA for remote access, MFA for privileged accounts and strong backup procedures including offline or use of ‘immutable’ cloud backup solutions.
• Preferred MFA method is a time sensitive token on a secondary device, therefore preventing both ‘factors’ been compromised if they’re stored on the same device.
• Restrictions on ransomware cover becoming increasingly common.
• Fast response and strategy communication on new vulnerabilities or threats including SolarWinds Orion, MS Exchange and Log4J.

Ignite Platform:

• Management Liability, Cyber and Misc. PI quote and bind platform – new business and renewals
• Links with Companies House to pull across client details and includes a financial health score on the client
• Transacted on a statement of fact basis – no need for a proposal form
• Very few trades are a decline