Chubb has introduced a new insurance product, Benchmarq Package, for the lower middle market segment, setting the standard for package policies focused on broader and more scalable coverage and efficiency. Benchmarq includes an expanded base coverage offering in both property and liability, resulting in insurance protection that is more inclusive than the typical industry package policies. While Benchmarq’s base offering is optimal for smaller or less complex package risks, coverage can also scale up through higher limits and additional endorsements to create fully customized solutions for clients’ unique and evolving needs in an underserved middle market space.
“Benchmarq helps to fill a gap in the lower middle market space that isn’t typically served by either a traditional package or business owners insurance policy,” said Ben Rockwell, Division President, Chubb Middle Market. “Chubb’s new modernized package extends our reach within the middle market, and enables us to deliver the renowned insurance services and offerings we’ve become known for to an even broader range of clients, at a time when exposures in this space continue to emerge. We believe agents and brokers will benefit from the scalability, faster quoting, and streamlined product design—all backed by Chubb’s specialized underwriting expertise, exceptional risk engineering and claims services, and global reach.”
Some of Benchmarq’s key product features include robust and scalable property and general liability coverages to protect clients from the risks they are most likely to face within the industries they specialize, including: education, food, manufacturing, professional services, real estate, retail, technology, wholesale, and wineries, with planned expansion into additional industries.
Source: PR Newswire
