Chubb introduces new package product for commercial clients
Chubb has introduced Benchmarq Package, a new insurance product that includes an expanded base coverage offering in both property and liability.
Benchmarq’s base offering is optimal for smaller or less complex package risks, but coverage can also scale up through higher limits and additional endorsements to create fully customized solutions for clients’ unique and evolving needs in the middle market space.
“Benchmarq helps to fill a gap in the lower middle market space that isn’t typically served by either a traditional package or business owners insurance policy. Chubb’s new modernized package extends our reach within the middle market and enables us to deliver the renowned insurance services and offerings we’ve become known for to an even broader range of clients, at a time when exposures in this space continue to emerge. We believe agents and brokers will benefit from the scalability, faster quoting, and streamlined product design—all backed by Chubb’s specialized underwriting expertise, exceptional risk engineering and claims services, and global reach.” – Ben Rockwell, Division President, Chubb Middle Market.
Some of Benchmarq’s key product features include robust and scalable property and general liability coverages to protect clients from the risks they are most likely to face within the industries they specialize, including education, food, manufacturing, professional services, real estate, retail, technology, wholesale, and wineries, with planned expansion into additional industries.
Benchmarq is currently available through field underwriters in 29 states, with more anticipated to become available in coming months. Benchmarq will be available on Chubb’s digital platform, the Chubb Marketplace, in the Fall of 2021.