Chubb reterms Syria/Sudan claims adjusters

Chubb reterms Syria/Sudan claims adjusters

New Jersey-based insurer Chubb Corp has renamed its claims adjusters in Syria and Sudan as "surveyors"  rather than "representatives", the term previously used. The move followed a US Securities & Exchange Commission inquiry into business in nations blacklisted by the U.S. because of terrorism ties.
 The third-party adjusters examined marine claims are now being called “surveyors” rather than “representatives,” according to a just-released September 18 letter from the insurer to the SEC. Chubb said in its letter that, while it does not sell coverage in Sudan or Syria, it provides a list of surveyors in the eventuality that they are needed by multinational clients
“The company is strongly committed to compliance with US economic sanction laws,” wrote Maureen Brundage, Chubb’s general counsel in the letter. She added that Chubb does not have any operations, employees or agents in Sudan or Syria.
The SEC reportedly contacted Chubb on August 7 about a document on the insurer’s website that identified claim representatives in the two countries

Latest Issue

July/August 2017

reactions-latest-issue  

In this month's Reactions

  • Brexit movers
  • Axis-Novae
  • Stephen Catlin's memoirs
  • London Market Awards

Click here to view this issue

 

Follow Us on Twitter @reactionsnet