Chubb Insurance Company of Europe is the UK trading arm of the US-based Chubb Group.
The Chubb Group first saw life as a marine insurance company operating from New York City, where the enterprise was founded by Thomas Caldecot Chubb and his son Percy in 1882. Start-up capital was provided by 100 local merchants each investing $1,000.
On the 75th anniversary of Chubb & Son in 1957, the company was still in the hands of the same family - notably, Percy's brother Hendon. The Chubb Corporation was founded in 1967 and was floated on the New York Stock Exchange in 1984.
Today, the Chubb Corporation is the 8th largest casualty and property insurer in the United States and has more than 120 offices in 29 countries worldwide. The Chubb Insurance Company of Europe maintains two offices in London and others in Birmingham, Leeds, Manchester, Glasgow and Dublin.
Chubb 1882 is also a registered underwriter at Lloyd's of London.
The company's European arm has followed its US parent by concentrating its business on larger corporations, individuals of high net worth and high end property. Nevertheless, its promotional material also refers to products for small and medium sized enterprises and for individuals of more modest means.
Whether ownership is of a single property or a whole portfolio of properties, the landlord is essentially running a business.
Landlord insurance is one of the tools on which the property owner may rely to ensure that the business of letting property runs smoothly and in an uninterrupted manner.
Typically, this means arranging cover for the property and its contents, safeguarding the landlord against claims of negligence from members of the public, tenants or employees, and measures that provide some form of compensation for loss of rental income in the event that the premises suffer damage and may no longer be let.
Chubb landlord insurance
Chubb prides itself on providing insurance solutions suited to individual client's needs.
This is reflected in the company's approach to insurance for landlords. For residential property, for example, the most appropriate policies may be those categorised as personal insurance for home and contents. Chubb's service includes a valuation of any residential property it insures and cover may be arranged at one of three levels - in ascending order of Initial, Masterpiece and Signature.
Reflecting its particular approach to underwriting, however, Chubb commercial insurance policies may also be appropriate for the owner of buy to let property. Of special note might be the company's speciality in providing "all risks" property damage cover and compensation for business interruption.
Given Chubb's continued targeting of large corporate and high-end property owners, landlord insurance from this company might not suit many of the UK's growing band of let property owners.