WHITEHOUSE STATION, N.J., July 30, 2019 /PRNewswire/ -- In response to ever-evolving exposures requiring enterprise-wide solutions, Chubb has introduced Pro ERMSM to help professional service firms mitigate a range of unique exposures that can impact their businesses. This new offering combines Miscellaneous Professional Liability, Media Liability, Cyber Liability, and first-party Cyber coverages with extensive loss mitigation and incident response services, all in a single policy. Pro ERMSM is an expansion of Chubb's comprehensive Cyber ERM offering, giving organizations of all sizes an enterprise risk management solution to address their wide-ranging risks.
"Professional service firms face a variety of liability exposures from their ordinary day-to-day operations, which can have a devastating impact on their company's bottom line and reputation," said Christopher Calnon, Senior Vice President, North America Financial Lines, Chubb. "For example, clients can bring lawsuits against firms for failure to provide a service in a timely fashion, if confidential data is accessed by an unauthorized party, or if a software product recommended by the firm failed to provide targeted efficiencies."
"Historically, firms would have to purchase multiple insurance policies or endorsements to secure the comprehensive coverage they need to address these risks," Calnon continued. "Purchasing these coverages separately can result in unforeseen coverage gaps, leaving companies vulnerable to additional exposures. With Pro ERMSM, professional service firms now have access to a more fully integrated solution, enabling them to better mitigate, manage and insure their constantly evolving exposures in today's technology-driven environment."
Key benefits include:
Chubb is the world's largest publicly traded property and casualty insurance company. With operations in 54 countries and territories, 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, Paris and other locations, and employs more than 30,000 people worldwide. Additional information can be found at www.chubb.com.