Chubb Offers Personal Excess Liability Insurance

September 28, 2007 ( - The Chubb Group of Insurance Companies has introduced a group personal excess liability insurance program in New Jersey, Pennsylvania and Michigan, and will soon roll it out in Connecticut.

The program may be offered through corporate employee benefit programs, as well as to the members of family offices, law, accounting, and other professional firms. According to a Chubb press release, the program provides a cost effective way for an individual to purchase an excess personal liability policy with limits up to $50 million. 

Personal excess, sometimes referred to as umbrella insurance, affords additional liability protection beyond the coverage included in automobile and homeowners policies.

“Many people do not realize that they are significantly under-insured in regard to liability in our ever more highly litigious society. For many affluent individuals, even $2 million or $3 million in coverage is no longer enough,” said Peter Spicer, vice president, Chubb & Son, and new product manager, Chubb Personal Insurance, in the release.

In addition to covering bodily injury, the policy includes coverage for personal injury claims such as libel and slander – risks that have become more prevalent in the Internet age, Chubb said. Another key policy feature is reputational injury coverage, which would help pay for public relations and other expenses to minimize the damage a lawsuit may inflict on a customer’s reputation.

In addition, the policy’s shadow defense coverage would help cover the expense of hiring one’s own attorney to monitor the claims process. Other coverage includes identity fraud and kidnap expenses. Employment practices liability coverage, which covers allegations of wrongful employment acts by residential staff, is available as a policy endorsement.

Additional information can be found at .