Chubb Insurance Background and Profile
Chubb proudly claims that they “Insure individuals and the things they care about most.” The company has hundreds of offices in dozens of countries that generate annual revenues close to $15 billion. Since Chubb launched in the late 1880s and introduction onto the New York Stock Exchange (with a symbol of “CB”), the company has climbed to the top of corporate leaders in the United States (180th as of a few years ago). Until recently, the company owned numerous technical schools, known as The Chubb Institute, that specialized in design, administration, and network systems.
Chubb offers both personal and business insurance. For individuals and families, the company insures cars, homes, and boats. For businesses, Chubb sells a wide range of customizable insurance and financial solutions, including:
- Property and casualty insurance
- Professional liability insurance
- Health insurance
- Accident insurance
- Other miscellaneous financial solutions.
The diversity of their products has lead Chubb into litigating cases in court and negotiated settlements. Below is a sample review Chubb-related cases over a ten year period between 2005 and 2010. The information illustrates areas where plaintiffs have been successful in finding recovery against this insurance giant.
Suing Chubb Insurance Directly or Through Their Insured For Chicago Auto Injury Cases
Statistics reveal that the largest block of plaintiffs who sued Chubb received no award or settlement. However, almost sixty percent (60%) of plaintiffs received more than fifty thousand dollars ($50,000.00). Plus, 28% to be exact recovered more than one million dollars ($1,000,000.00).
Almost seventy percent (70%) of all plaintiffs gathered more than fifty thousand dollars ($50,000.00) through a jury award or settlement. The numbers for those falling between one hundred thousand dollars ($100,000.00) and one million dollars ($1,000,000.00) and those falling above one million dollars ($1,000,000.00) are also high above the norms compared to plaintiffs who sued other insurance companies -- 23% and 41% respectively.
In car accidents cases, only twelve percent (12%) of plaintiffs lost to Chubb and received no award or settlement. Surprisingly, a very small number of plaintiffs recovered smaller sums, where thirteen (13%) garnered under one hundred thousand dollars ($100,000.00). This left a large swath of plaintiffs (43%) who received between one hundred thousand dollars ($100,000.00) and one million dollars or plaintiffs (32%). Compared to other insurers, plaintiffs who sued Chubb had extraordinary success obtaining significantly large financial awards and out of court settlements. The number of plaintiffs who receive high six-figure and seven-figure sums was lower than those who sued other providers.
The Chubb Auto Claims Process
After an accident, it is crucial to remember to stay calm, record the facts, and seek medical and legal help. Staying calm is essential because it can help you lower your stress levels as you come to terms with what just happened and call for medical emergent care at the scene of the accident. Recording the facts will be helpful to build a solid case for monetary recovery. Seeking help, especially from lawyers, is necessary because most victims do not have the time, resources, or experience to fight large insurance companies aggressively when communicating with defending law firms representing the driver responsible for causing damages. Our clients know we provide enthusiastic legal assistance and take complete control of the case to ensure it is successfully resolved with a jury trial award or negotiated settlement. Call us today so we can discuss your case and how we can help you in your time of need. For more information about Chubb visit their website at: www.chubb.com and for filing claims:
Chubb Services Corporation
15 Mountainview Road
Warren, NJ 07059