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Products February 5, 2007
Chubb Offers Lower Deductible for Early Employment Claim Reporting
February 5, 2007 (PLANSPONSOR.com) - Clients of The
Chubb Group of Insurance Companies with employment practices
liability (EPL) coverage can now get 10% off their deductible
(up to $50,000) by reporting employment claims within 15
days.
Reported by Fred Schneyer
A Chubb news release said its Early Claim Reporting Incentive Endorsement program includes administrative charges filed with the Equal Employment Opportunity Commission (EEOC).
The deductible reduction is available for each claim reported during the policy period.
Chubb’s Early Claim Reporting Incentive Endorsement is available to all EPL customers except those that are subject to claim-reporting thresholds, the company said.
“Almost 80,000 charges are filed with the EEOC annually; some EPL policyholders may not realize that each of these charges is an employment practices liability claim,” said Catherine Padalino, worldwide EPL product manager for Chubb Specialty Insurance, in the news release. “If a company fails to report an EEOC charge in a timely manner as dictated by its insurance policy, the insurer may deny the claim due to late notification. By encouraging early reporting of claims, Chubb not only helps eliminate that problem, but we also can save our customers money as well as help them mitigate potential litigation costs and reputational damage.”
More information is at www.chubb.com .