Major insurer Chubb has launched a new comprehensive single property and liability package insurance policy for middle market businesses in the UK and Ireland.
The company said its MasterPackage solution aims to meet the needs of businesses in the UK and Ireland that have local or international operations and a turnover of £2 million to £500m.
Alex Forrest, Chubb UK and Ireland package manager, said the solution responds to feedback from national and regional broker panels requesting comprehensive, warranty-free cover in a single, easy to navigate policy document.
“Our new, warranty and condition precedent-free policy provides our clients with the comprehensive cover they demand and deserve while eliminating the jargon they so often find frustrating and time-consuming,” Forrest said.
The latest product offers cover for five priority risk areas – property damage, business interruption, terrorism, employers’ liability and public and product liability.
It also includes a range of new extensions for risks such as data breach and cyber attacks crisis response, loss of attraction and unspecified locations.
The package policy increases limits for undamaged tenants improvements and betterments, property stored and reinstatement to match.
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