Insurance firm Chubb has expanded its insurance coverages for real estate and hospitality industry clients in the US and Canada.
The company is providing new primary casualty and property insurance coverage options under Real Estate & Hospitality Practice for real estate owners and managers, as well as hospitality-related companies in the two countries.
The new coverage options comprise of foreign casualty, excess casualty, environmental, errors and omissions, directors and officers, fiduciary liability and employee practices liability.
Other coverage options include privacy and network security, commercial crime, kidnap or ransom extortion, accident and health, OCIP or maintenance wraps, as well as transactional risk, comprising of representations and warranties.
Chubb major accounts division president Chris Maleno said: "The trends and variables that affect the commercial real estate and hospitality industries are continuously changing and evolving – this can leave property owners and hospitality companies susceptible to critical exposures."
The firm will offer expanded capacity through shared and layered and ground up property programs with limits up to $650m and critical catastrophe limits up to $50m.
In addition, excess casualty and environmental limits are provided up to $50m and limits of $25m for professional coverages.
Real estate and hospitality customers can also have access to customized risk engineering services, comprising of infrared testing of electrical equipment and panels; ergonomics and manual materials handling consultations, as well as others.
With operations in around 54 countries, Chubb offers commercial and personal property and casualty insurance, personal accident and supplemental health insurance, reinsurance and life insurance services to its customers.