Chubb Limited Stock Price, News & Analysis

Chubb has improved its Directors & Officers (D&O) and Entity Securities Liability Insurance, along with its Fiduciary Liability insurance, to better serve companies facing management liability risks. The enhancements include customizable policy endorsements that cater to unique company needs globally. The new Fiduciary Liability policy adds sought-after features like settlor coverage and pre-claim investigation coverage, providing robust protection in a litigious environment. These updates underline Chubb's commitment to addressing evolving corporate risk exposures.

AM Best has affirmed the Financial Strength Rating (FSR) of A++ (Superior) and Long-Term Issuer Credit Ratings (ICR) of “aa+” for Chubb Limited's subsidiaries, including Chubb US Group and Chubb Bermuda. The outlook for these ratings is stable. The ratings reflect the group's strong balance sheet, very strong operating performance, and favorable business profile. Chubb is noted as the eighth-largest U.S. property-casualty insurer, with a strong underwriting record despite challenges from catastrophe losses and COVID-19 in recent years.

Chubb has released a new whitepaper titled "Email: Is the Digital Door Propped Open for Identity Hijackers?" co-authored with Microsoft. This document highlights the evolution of email cyber crimes, particularly Business Email Compromise (BEC). It emphasizes the necessity of multi-factor authentication as a safeguard against such attacks, which exploit weak passwords and sophisticated impersonation tactics. With claims that implementing these measures can significantly lower risks, the whitepaper aims to provide businesses with effective strategies to combat evolving cyber threats.

Chubb recently released its Fourth Annual Homeowners' Risk Report, highlighting the effects of COVID-19 on home safety and risk behaviors. Conducted in August 2020, the survey reveals homeowners' concerns about upkeep (60%), maintaining home value (45%), and weather-related water damage (38%). Alarmingly, a third of homeowners delayed maintenance due to the pandemic, increasing potential repair costs. Notably, 32% of urban dwellers are considering relocating to suburbs. The report aims to raise awareness on property protection needs during these challenging times.

Chubb has appointed John Keogh as President and Chief Operating Officer, effective immediately. Keogh, who has served as Chief Operating Officer since 2011, will continue to report to Evan G. Greenberg, the Chairman and CEO. This promotion reflects his extensive contributions to the company over 14 years. Chubb operates in 54 countries, offering a range of insurance solutions. The company is listed on the NYSE under the symbol CB and is part of the S&P 500 index.

Chubb has released a report titled "Digital Business Accelerated," detailing how small and mid-sized businesses are adapting to a digital-first environment due to COVID-19. The study, conducted with Accenture, identifies four key trends: digital-first communication, data utilization, workforce transformation, and global market engagement. The report highlights that 75% of businesses plan to invest in AI over the next three years, reflecting a growing focus on digital capabilities amid increased risk exposures.

Nubank and Chubb have launched Nubank Vida, a fully digital life insurance product in Brazil. Targeted at Nubank's 30 million customers, the offering simplifies the purchasing process by enabling users to customize their policies through an app. Basic coverage includes natural or accidental death, hospitalization, and funeral assistance. The partnership aims to democratize life insurance access in Brazil, where only 20% of Nubank's customers currently hold a policy. The initiative reflects Nubank's commitment to innovation and expanding its product range.

Chubb announced the appointment of Gabriel Lazaro as Senior Vice President, Digital Head for Overseas General Insurance, effective January 1, 2021. Previously serving as Digital Head for Latin America, Lazaro will now oversee digital insurance product distribution outside North America. He'll report to Sean Ringsted and Juan Luis Ortega. With a strong background in digital strategy, Lazaro aims to enhance Chubb's international digital efforts and product innovation. Chubb operates in 54 countries and is listed on the NYSE under the symbol CB.