Chubb Announces Premium Credit for U.S. Auto Policyholders to Reflect Changing Driving Habits Due to the COVID-19 Pandemic

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Chubb Announces Premium Credit for U.S. Auto Policyholders to Reflect Changing Driving Habits Due to the COVID-19 Pandemic

Savings for U.S. personal auto clients to average $110 per vehicle

Chubb is providing its personal auto insurance clients in the U.S. with a credit on annual renewal premiums as a result of reduced driving activity. Upon renewal, clients will receive a credit reflecting a 35% premium reduction for the months of April and May, with additional discounts for subsequent months, as the situation warrants. Across Chubb's portfolio, the average credit is expected to be $110 per vehicle. Clients will not have to request the credit; it will be applied automatically at renewal. All premium and rate adjustments are subject to regulatory approval.

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Posted by Alex Hodges

Alex has 40+ years of experience in the industry with a specific interest in the international P&C business. Alex began his career with Rollins Burdick Hunter Co in Chicago; moved to New York with the firm; then back to Chicago HQ after the acquisition of RBH by Aon. As part of Aon’s global acquisition team, he moved to The Netherlands to help with the integration of Hudig-Langeveldt and Frank B. Hall in Europe, Scandinavia, United Kingdom and the Middle East. Alex has expertise managing large multinational insurance programs. His last position with Aon was managing the Aon-owned Strategic Underwriters International MGA for Kidnap, Ransom & Extortion, Workplace Violence and Political Risk. Alex is the founder of Insurance Services Network Corporation and Editor-in-Chief of the IRL – Insurance Research Letter.