Chubb Property Program

Protecting property and assets is one of the most important investments for healthcare organizations. Our programs are designed to protect our clients from financial loss by providing the most innovative risk transfer products in the market.

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ChubbProprietary Form

 

The policy form provides enhanced coverage parameters that are automatically included in our Standard Offering at no additional underwriting cost, including but not limited to the following areas:

  • Combined Single Limit of Insurance
  • Enhanced Extended Period of Indemnity
  • Enhanced Fungus Limit
  • Enhanced Preparation of Loss Limit
  • Enhanced Transit Limit
  • Enhanced Automatic Builder’s Risk Coverage
  • Enhanced Valuable Papers Limit
  • Enhanced Accounts Receivables Limit
  • Proprietary Patient Evacuation Endorsement Wording
  • Proprietary Paved Surfaces Endorsement
  • Zero Deductible Extra Expense

 

Loss Prevention

This service is provided through Risk Logic, Inc. at no additional cost to the customer. These services include assessments, surveys, and recommendations on ways to prevent, mitigate or recover from losses. The Property Program for Premier members and other hospitals and health systems nationwide includes the following services to all participants through Risk Logic, Inc.:

  • Loss prevention surveys
  • Impairment management
  • Fire protection acceptance testing
  • Fire protection system testing
  • New construction consultation
  • Review of fire protection system plans

 

Appraisal Subsidy

Chubb provides up to 7.5% of the total premium or $15,000 (whichever is less) to offset the cost of an appraisal conducted once every three years.

 

Risk Quality Benchmarking

Chubb provides the client with annual benchmarking reports that objectively rank the hospital on a risk quality ranking scale of 1-10 in categories such as: Sprinkler Protection, Water Supply, Surveillance Quality, Warehousing Protection, Overall Protection, Management Programs, and Pre-Emergency Planning Quality. This allows the hospital to self-evaluate their risk from an industry specific scale.

 

Stewardship Report

Chubb provides annual Stewardship Reports that summarize and identify all service procedures and appointments that have occurred on the account for each location at the facility.

 

Submission Requirements

  • Statement of Values
  • Business Income Worksheet
  • Loss Runs
  • Consolidated Financials