Chubb launches enhanced business package insurance for SMEs in Hong Kong SAR

September 01, 2020 - 04:43
Chubb launches enhanced business package insurance for SMEs in Hong Kong SAR

HONGKONG, CHINA - Media OutReach - 1 September 2020 - Chubb announced today the launch of EnterpriseGuard Plus with enhanced benefits to its existing business package insurance policyin Hong Kong SAR. The enhanced product offers greater coverage for the evolvingneeds of businesses, in particular for  new exposures due to COVID-19.

With the movement restrictions severely impacting business operations andthe economy, more businesses have shifted their operations online. At the sametime, corporate IT  departments have alsohad to focus resources on keeping networks up and running, potentiallyimpacting their ability to detect malicious activity quickly. In response tothis, the enhanced plan comes with an optional legal liability cover thatprotects businesses when handling personal data.

Here are highlights of the new and enhancedbenefits[1]:

1.      Newly added material damage coverincludes daily cash benefits, exhibition materials, and accidental glass breakage.

2.     New for old cover for damagedcontents.

3.      Double up increased costs of work incase of business interruption.

4.     Fraudulent use of company credit card.

5.      Legal liability extended to coverbodily injury arising from activities arranged by social and welfare club.

6.     Optional legal liability cover that protectsbusinesses when handling  personal data.

Stanley Wong, President of Chubb's generalinsurance business in Hong Kong SAR said, "With the on-going pandemic andbusiness restrictions in Hong Kong, SMEs are the hardest hit in the economic downturn.We understand the emerging risks as businesses adapt their operations to thenew normal. With Enterprise Guard Plus, we have tailored coverage to respond tothe evolving risks so that SMEs can sustain their core business with confidence."

For more information about Chubb's EnterpriseGuard Plus Insurance, please visit

[1] Thesehighlights are an overview of the key enhancement features of the product.Please see the actual policy for exact terms, conditions and exclusions.

About Chubb

Chubb is the world's largest publiclytraded property and casualty insurer. With operations in 54 countries andterritories, Chubb provides commercial and personal property and casualtyinsurance, personal accident and supplemental health insurance, reinsurance andlife insurance to a diverse group of clients. As an underwriting company, weassess, assume and manage risk with insight and discipline. We service and payour claims fairly and promptly. The company is also defined by its extensiveproduct and service offerings, broad distribution capabilities, exceptionalfinancial strength and local operations globally. Parent company Chubb Limitedis listed on the New York Stock Exchange (NYSE: CB) and is a component of theS&P 500 index. Chubb maintains executive offices in Zurich, New York,London, Paris and other locations, and employs approximately 33,000 peopleworldwide.

With both general and life insuranceoperations, Chubb has been present in Hong Kong SAR for more than 90 years viaacquisitions by its predecessor companies. Its general insurance operation inHong Kong SAR (Chubb Insurance Hong Kong Limited) is a niche and specialistgeneral insurer offering products such as property, casualty, marine, financial linesand consumer lines designed for large corporates, midsized commercial &small business enterprises as well as retail customers. The AA- long terminsurer financial strength and counterparty credit ratings by Standard &Poor's are indicative of the company's strong capitalisation. Over the years,the company has built strong client relationships by offering responsiveservice, developing innovative products and providing market leadership builton financial strength.

More information can be found at