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News - Chubb preaches legal action threat to bosses.
(From Post Magazine)
Chubb Insurance has relaunched its directors' and officers' offering for private and public companies, warning that bosses have never been at greater risk from legal actions.
Chubb's Masterprotect for public and Masterplus for private companies were due to be unveiled today, including key additions to the policies, which it said exceed the market average with value added covers.
Nigel Pearson, underwriting manager for executive protection at Chubb Insurance commented: "The previous wordings had been written in 2004 so it was necessary to bring them up to date. For example, we had a blanket insured-versus-insured exclusion worldwide and we had been out of step. This has been rectified, with the exclusion removed except for in the US."
Mr Pearson highlighted the intense regulatory landscape for both private and public companies, ...
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