Chubb launches eGroup Personal Accident Insurance Annual Plan in Hong Kong for Start-ups and SMEs

HONG KONG, CHINA - Media OutReach - 25 February 2019 - Chubb today announced the launch of eGroup Personal Accident Insurance in Hong Kong.

As a global leader in personal accident and supplemental health insurance, Chubb understands how employees' injuries can disrupt their business and lead to costly compensation. In particular, new start-ups and small & medium-sized enterprises (SMEs) are more vulnerable than large multinationals or conglomerates with regard to resources and finances. Chubb's eGroup Personal Accident Insurance has been specially developed to help SMEs provide relevant coverage to their employees as an added staff benefit.  

The highlights of the plan[1] include:

1. The waiver of the age limit for policy issuance and renewal.
2. Provision of employee coverage is on an unnamed basis.
3. Full terrorism cover.
4. Waiver of medical examination, and
5. 24-hours worldwide coverage.

The eGroup Personal Accident Insurance includes lump sum benefits for accidental death and disablement and lump sum benefits for medical expenses. There are four fixed plans with premiums starting from as low as HKD1,000 per policy.

Stanley Wong, Country President of Chubb's general insurance business in Hong Kong said, "In a buoyant economy, investing in policies that support employee retention is essential as employers recognise the high costs of rehiring and training. Chubb comprehends the challenges faced by the over 300,000 SMEs in Hong Kong which employ almost half of the workforce in the private sector. Therefore, we have developed eGroup Personal Accident Insurance to provide a strong safety net for employees. The plan protects the employer's business from being disrupted by employees involved in accidents."

For more information about Chubb eGroup Personal Accident Insurance, please visit https://www.chubb.com/hk-en/business/group-personal-accident-insurance.aspx.

About Chubb

Chubb is the world's largest publicly traded property and casualty insurance company. With operations in 54 countries and territories, Chubb provides commercial and personal property and casualty insurance, personal accident and supplemental health insurance, reinsurance and life insurance to a diverse group of clients. As an underwriting company, we assess, assume and manage risk with insight and discipline. We service and pay our claims fairly and promptly. The company is also defined by its extensive product and service offerings, broad distribution capabilities, exceptional financial strength and local operations globally. Parent company Chubb Limited is listed on the New York Stock Exchange (NYSE: CB) and is a component of the S&P 500 index. Chubb maintains executive offices in Zurich, New York, London and other locations, and employs approximately 31,000 people worldwide.

With both general and life insurance operations, Chubb has been present in Hong Kong for more than 90 years via acquisitions by its predecessor companies. Its general insurance operation in Hong Kong (Chubb Insurance Hong Kong Limited) is a niche and specialist general insurer offering products such as Property, Casualty, Marine, as well as Accident & Health programs for large corporates, midsized commercial and small business customers. The AA- long term insurer 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 responsive service, developing innovative products and providing market leadership built on financial strength.

More information can be found at www.chubb.com/hk