Business News: Chubb, The Guarantee, NORCAL Mutual

Chubb Introduces New Workers’ Compensation System for Small Businesses

A new online system from Chubb will help independent agents quote and issue a comprehensive workers’ compensation policy for small businesses.

Chubb’s workers’ compensation policy for small business owners is designed to meet the needs of a wide range of industries, and includes the following coverage highlights:

• Provides coverage for small businesses with as few as one employee up to businesses with revenues of $10M.
• Includes small business protection for medical expenses and lost wages to employees, providing security and peace of mind for employers.
• Incorporates versatile coverage options including waiver of subrogation and various employer liability limits.
• Easy, 24/7 automated system access with the ability to generate a quote and issue a policy in just minutes.

The Guarantee Launches H2O+ Water Protection

The Guarantee Company of North America (The Guarantee) launches their eagerly awaited water endorsements, GUARANTEE GOLD H2O+ and Guarantee SUPERIOR H2O+ effective immediately for new business and May 23, 2017 for renewals. The comprehensive, read-in coverage sits on top of existing sewer back-up coverage in every residential policy and is designed to offer complete water protection for all policyholders by extending coverage to overland or fresh water flooding, damage caused by ground and surface water and waterborne ice.

The new endorsement addresses the gaps in coverage most homeowners currently face and offers broad availability extending to all risk types at fair and individualized pricing.

Partnerships with flood modeling experts, Aon Benfield & Impact Forecasting, allow The Guarantee to access technology that assesses the individual geographical area of virtually the entire Canadian population for flood risk.

The Guarantee has also partnered with Opta Intelligence Services in offering a technological tool which gives brokers enhanced capabilities. While brokers can still utilize the GUARANTEE GOLD and Guarantee SUPERIOR underwriting teams as a quoting resource, they will also soon be able to calculate H2O+ premium instantly and directly through the use of Opta’s iClarify quoting tool.

As this new and progressive coverage is being read-in to existing policies with sewer back-up, the customer will automatically be given improved coverage for the duration of the current term of their policy with no extra effort or expense.

NORCAL Mutual to Offer Medical Professional Liability Coverage in 2 New States

NORCAL Mutual Insurance Company’s national expansion continues with the offering of medical professional liability insurance to physicians and health care providers in Colorado and Minnesota. These latest states extend NORCAL’s national footprint to 35 states.

Colorado physicians have access to NORCAL’s health care professional policy with extensive cyber liability and administrative defense coverage, and Minnesota physicians will begin to have the option for coverage beginning April 1.

NORCAL Mutual and its subsidiaries insure more than 30,000 physicians nationwide.