PHILADELPHIA, April 12, 2016 /PRNewswire/ -- Chubb today released an in-depth report examining new and longstanding risk exposures facing companies that use vehicles in their business operations.
"Keeping Pace with Auto Risks: Overlooked Risks May Lead to Large Losses" provides tactical tips to help firms reduce their auto-related exposures. Part of a series of insurance and risk management perspectives, the new advisory was co-authored by Nicholas J. Davis, Vice President, and Stephanie McMullen, Assistant Vice President, Chubb Excess Casualty – Major Accounts.
"Unfortunately, roads can be a very dangerous place, and even at the most safety-conscious companies, accidents can still happen. In addition to the potential loss of lives, a loss involving a company-owned or hired vehicle could result in multi-million dollar lawsuit," said Mr. Davis. "Regardless of an organization's size, it is vital that it stresses the importance safe driving practices at all times—whether on or off the company clock. By implementing accident protocols and ensuring a proactive approach to auto safety, companies can help reduce the potential for accidents. And by working closely with an agent or broker and insurer, they can secure the appropriate level of liability insurance protection."
Key risk exposures examined in the Chubb advisory include:
The report also discusses:
To access the full report, visit http://www.acegroup.com/us-en/assets/chubb_auto_advisory.pdf
Chubb is the world's largest publicly traded property and casualty insurance company. With operations in 54 countries, 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 distinguished by its extensive product and service offerings, broad distribution capabilities, exceptional financial strength, underwriting excellence, superior claims handling expertise 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 maintains executive offices in Zurich, New York, London and other locations, and employs approximately 31,000 people worldwide. Additional information can be found at: new.chubb.com.