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Chubb Private Threat Providers has introduced the launch of a self-service Flood Insurance coverage System for brokers.

The brand new platform, which can combine with the Chubb Agent Portal and the Masterpiece EZ Quote owners platform, will help Chubb’s private traces enterprise for major and extra flood. It’s going to present quotes for low-hazard properties in lower than two minutes, the corporate mentioned.

The system shall be accessible in all states the place Chubb writes flood insurance coverage, in accordance with a information launch.

“We’ve made a big funding to create an distinctive quoting and issuance course of for brokers to make sure we will supply full flood safety protection choices for purchasers,” mentioned Louis Hobson, senior vp of Chubb’s North American flood insurance coverage enterprise.

Local weather change is inflicting floods to extend in frequency – together with in areas not traditionally liable to flooding, Chubb mentioned. Floods are generally related to climate catastrophes resembling hurricanes, however may also be triggered by occasions like rain runoff, which may affect any space.

“The disagreeable actuality is that wherever it might probably rain, it might probably flood,” Chubb mentioned.

“Standalone residence insurance policies typically exclude any floor water that enters your property,” Hobson mentioned. “The most typical reason behind flooding harm isn’t linked to an excessive climate occasion – it may be so simple as rain runoff that accumulates too rapidly.”

Chubb’s flood insurance coverage offers custom-made protection with limits as excessive as $15 million. Protection will be obtained for as little as $500 a 12 months, the corporate mentioned.

In different firm information, Chubb lately introduced the launch of a world transactional danger insurance coverage platform. As a part of the launch, the corporate appointed Josh Cowen as senior vp for worldwide transactional danger.

Chubb additionally lately introduced the appointment of Seth Gillston as govt vp and head of North American trade practices.

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