Chubb, Zurich, National Indemnity Launch Excess Casualty Facility
Offering addresses growing insurance challenges for large companies amid claims escalation; provides up to $100 million in claims-made excess casualty coverage.
NEW YORK, May 1, 2025 /PRNewswire/ -- Chubb, Zurich North America and National Indemnity have announced a new excess casualty facility that can offer up to $100 million in lead excess casualty insurance capacity on a claims-made basis for large national and multinational companies. The facility is unique in the industry and will deliver excess umbrella liability coverage underwritten by Chubb and Zurich and supported by National Indemnity Company, the lead reinsurer of Berkshire Hathaway. This facility coverage solution will be available in the U.S. and will begin underwriting business immediately with coverage effective starting July 1, 2025.
"The litigation environment for large companies in the U.S. is increasingly hostile, and business as usual is not the answer," said John Keogh, President and Chief Operating Officer of Chubb Group. "This initiative, between three of the largest, most experienced insurers in the large account market, is our effort to bring a new approach in terms of insurance protection and claims capability, that best serves those clients who are more and more often the target of legal abuse."
"Businesses were facing decreases in available capacity, as well as rising coverage costs," said Zurich North America CEO Kristof Terryn. "This facility creates a sustainable answer to the litigation environment, whose volatility has continued to frustrate our customers, while helping to stabilize capacity in the excess casualty market. We are pleased to be working with Chubb and Berkshire Hathaway's National Indemnity to make the most of our combined knowledge, financial strength and staying power to provide such a needed solution for our customers."
Ajit Jain, Vice Chairman-Insurance Operations of Berkshire Hathaway, said, "We are thrilled to be supporting the efforts of leaders like Chubb and Zurich to deliver solutions for clients in this incredibly challenging market."
The new excess casualty offering streamlines insurance acquisition and administration for customers, brokers and agents. Other key benefits include:
- A single access point (Chubb or Zurich)
- Administrative and cost efficiencies
- Consistency in coverage terms
- Proactive and expert claims handling
For more information about the new excess casualty facility, please contact:
Lyndsey Christofer, EVP, Chubb Head of North America Casualty for Major Accounts, at [email protected].
Bill Chepulis, Head of Large Casualty, Zurich North America, at [email protected].
About Chubb
Chubb is a world leader in insurance. With operations in 54 countries and territories, Chubb provides commercial and personal property and casualty insurance, personal accident and supplemental health insurance, reinsurance and life insurance to a diverse group of clients. The company is defined by its extensive product and service offerings, broad distribution capabilities, exceptional financial strength and local operations globally. Parent company Chubb Limited is listed on the New York Stock Exchange (NYSE:CB) and is a component of the S&P 500 index. Chubb employs approximately 43,000 people worldwide. Additional information can be found at: www.chubb.com.
About Zurich North America
Zurich North America is one of the largest providers of insurance solutions and services to businesses and individuals. Our customers represent industries ranging from agriculture to technology. Zurich North America is part of Zurich Insurance Group (Zurich), a leading multi-line insurer serving people and businesses in more than 200 countries and territories. Founded more than 150 years ago, Zurich is transforming insurance. In addition to providing insurance protection, Zurich is increasingly offering prevention services such as those that promote wellbeing and enhance climate resilience. The Group has more than 63,000 employees and is headquartered in Zurich, Switzerland. Zurich Insurance Group Ltd (ZURN), is listed on the SIX Swiss Exchange and has a level I American Depositary Receipt (ZURVY) program, which is traded over-the-counter on OTCQX. Further information is available at https://www.zurich.com/ and https://www.zurichna.com/.
About National Indemnity Company
National Indemnity Company has been the leading reinsurer of the Berkshire Hathaway Group of insurance companies for over 50 years and is one of the best capitalized insurance companies in the world. At year-end 2024, National Indemnity Company's statutory surplus was US$240 billion.
View original content to download multimedia:https://www.prnewswire.com/news-releases/chubb-zurich-national-indemnity-launch-excess-casualty-facility-302444564.html
SOURCE Chubb