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Chubb Creates Package Insurance Policy for Apartment, Co-op and Condo Risks

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Posted on 22 Jun 2011

A new commercial multi-peril package policy from the Chubb Group of Insurance Companies will provide apartment building owners and co-op and condominium associations with a package of property, casualty, workers compensation, automobile and umbrella liability insurance coverages.

Agents and brokers can access MarketEdgeTM for Habitational Real Estate through Metro Insurance Services, which will manage all underwriting and policy servicing.  The insurance package is available in Delaware, Maryland, New Jersey, New York, Ohio and Pennsylvania. It will be rolled out in other states throughout 2011.

"MarketEdge for Habitational Real Estate offers customers best-in-class insurance protection, superior service and unparalleled financial strength,” said Franklin Sanders, senior vice president and manager of program business for Chubb Custom Market.

”The new MarketEdge policy, combined with an electronic platform that lets us rate, quote and issue a policy, creates an ease of doing business with producers,” said Steven Gross, chairman, president and chief executive officer for Metro.

About Chubb Custom Market

Chubb Custom Market, Inc., a wholly-owned subsidiary of The Chubb Corporation, develops and markets a broad range of specialized admitted and non-admitted insurance coverages and programs on behalf of members of the Chubb Group of Insurance Companies. In addition to general casualty, property, excess liability, environmental and inland marine coverages tailored to the needs of a variety of customers,

Chubb Custom Market specializes in insuring energy, entertainment, life sciences and recreational marine risks. The unit's products are written on a retail or wholesale basis through program managers and other Chubb-appointed agents and brokers.

The member insurers of the Chubb Group of Insurance Companies form a multi-billion dollar organization providing property and casualty insurance for personal and commercial customers worldwide through 8,500 independent agents and brokers. Chubb's global network includes branches and affiliates in North America, Europe, Latin America, Asia and Australia.

About Metro

Metro Insurance Services, Inc., established in 1983, is a full-service program manager serving the needs of habitational real estate throughout the United States. It offers an array of property and casualty solutions through both retail and wholesale brokers. Metro Insurance Services is located in Springfield, NJ. For more information, contact Steven Gross at 973-467-4467, ext. 102, or by email at sgross@metroins.com or visit their website at www.metroins.com.


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