Chubb Ltd. has added improvements to its board members' liability and securities liability and its trust insurance products.
These include, for its D&O coverage, adding defense costs to a written request to weigh or waive a statute of limitations applicable to a potential claim.
Chubb said in a statement on Tuesday that the changes are designed to help companies face a range of management responsibilities.
A spokeswoman referred to websites that show added coverage features and new coverage innovations for D&O and management responsibilities, respectively.
On its D&O side, in addition to tariffs and refraining from changes, includes coverage features that are added include: the policy extends cuts to include parts of federal security law and extends the economic write-off cut; it changes the language for several behavioral exceptions; and it provides that if a company chooses not to report a request, subsequent related matters will not be subject to late notice.
Chubb has changed its primary administrative responsibility to provide coverage for plan registration errors, where the injured party has not submitted a formal claim.
It has also added a sublimit for fines and penalties that flows above all other sublimits for fines and penalties, which customers can use if a specific subsidy for fines or penalties has been exhausted.