WHITEHOUSE STATION, N.J., July 19, 2017 /PRNewswire/ -- Chubb has launched a multi-line industry practice within its Major Accounts division, dedicated to providing innovative insurance products, industry-leading service and risk management solutions for best-in-class large risk transportation clients in the United States and Canada.
Chubb's Transportation Industry practice provides a broad range of coverages and services to transportation companies with fleets in excess of 500 power units that are willing to utilize large retentions/deductibles. This includes truckers, bus operators, waste haulers, rental car companies, and airlines, as well as manufacturers and distributors with large vehicle fleets.
The formalization of this practice, with its experienced leadership and broad portfolio of product and service offerings, will help these types of organizations to take a more holistic approach in managing exposures that pose a significant threat to their businesses.
"Large transportation companies are becoming more susceptible to a range of risks, including extensive auto, technology, and supply chain liabilities, in addition to the regulatory and compliance exposures involved in the use of independent contractors," said Chris Maleno, Senior Vice President, Chubb Group, Division President, North America Major Accounts. "This new practice reinforces Chubb's commitment to ensuring that brokers and risk managers in this industry continue to have access to a range of core coverages, including primary and excess casualty, as well as more specialized coverages, such as environmental, surety and cyber."
Leading the practice is David Brown, who has been appointed Executive Vice President, Transportation Industry Practice, Major Accounts Division. Mr. Brown will manage a team of dedicated underwriters with deep industry knowledge and insurance expertise across multiple lines of business. He will be based in New York and report to Matt Merna, Chief Operating Officer, North America Major Accounts Division.
"Chubb's commitment to helping our clients manage their specific coverage needs, coupled with our disciplined approach to underwriting and use of industry-leading technologies, such as our web-based solution, Chubb AcceleratorSM, used to assist clients in documenting coverage elections, enables us to provide the very best experience for customers and their brokers," said Mr. Merna. "The formal establishment of this practice further supplements our commitment to expanding focus on industries that can benefit from more customized risk management solutions."
Mr. Brown brings more than 28 years of underwriting and management experience in the large risk transportation segment to this new role. He most recently served as Senior Vice President and Transportation Practice Leader for Chubb's Global Casualty business unit, which he will continue to oversee as part of his expanded responsibilities. Mr. Brown joined ACE Group in 1999 as a casualty underwriter and was instrumental in formulating the transportation industry strategy that has been in place since 2000. In addition, Mr. Brown has held various management positions at Chubb, including, casualty underwriting manager in the New York Branch.
Mr. Brown received a Master of Business Administration degree with concentration in Finance, and a Bachelor of Science degree in Actuarial Science from St. Johns University.
For additional information about Chubb's offerings for the transportation industry, please click here.
About Chubb's Industry Practices
The Transportation Industry Practice is one of several Chubb industry-specific practices, including Broadcasters, Clean Tech, Construction, Educational Institutions, Energy, Entertainment, Financial Institutions, Government Contractors, Healthcare, Law Firms, Information & Network Technology, Life Sciences, Manufacturing, Museum & Cultural Institutions, Non-Profits, Private Equity, Real Estate and Hospitality, and Wineries.
Chubb is the world's largest publicly traded property and casualty insurance company. With operations in 54 countries, Chubb provides commercial and personal property and casualty insurance, personal accident and supplemental health insurance, reinsurance and life insurance to a diverse group of clients. As an underwriting company, we assess, assume and manage risk with insight and discipline. We service and pay our claims fairly and promptly. The company is also defined by its extensive product and service offerings, broad distribution capabilities, exceptional financial strength and local operations globally. Parent company Chubb Limited is listed on the New York Stock Exchange (NYSE: CB) and is a component of the S&P 500 index. Chubb maintains executive offices in Zurich, New York, London and other locations, and employs approximately 31,000 people worldwide. Additional information can be found at www.chubb.com.
Chubb Insurance Company of Canada has offices in Toronto, Calgary, Montreal and Vancouver and provides its products and services through licensed insurance brokers across Canada. For additional information, visit: chubb.com/ca.
All products may not be available in all states. Surplus lines products are available only through licensed surplus lines producers. Coverage is subject to the language of the policies as actually issued.