Chubb’s creation of a Fine Art practice is one of several measures over the past year that have helped it win a significant industry award, said Kathleen Tierney, chief operating officer of Chubb Personal Insurance.
The Chubb Group of Insurance Companies has been recognized as the Best High-Net-Worth Insurance Company by Private Asset Management, a publication that reports on the wealth management and family office industry.
Tierney said that Chubb took several measures over the past year to further enhance the services it provides to high-net-worth clients. These included significantly upgrading the Signature Suite of services, including personal security consultation, domestic employment counsel, and travel-related emergency medical evacuation.
It also created its Fine Art Practice, which brought together its fine art resources worldwide in underwriting, loss prevention, appraisal and claims to respond to the evolving needs of clients with large and valuable collections.
The Private Asset Management (PAM) Awards recognize organizations that have “successfully serviced high-net-worth individuals in an increasingly complex economic environment.” The awards also “celebrate those that have provided exceptional client service to the private asset management industry over the past 12 months.” According to the publication, the judging process is rigorous, and the judges are selected based on their wealth management experience and expertise.
“We’re delighted that an independent panel of expert judges from the wealth management community chose Chubb as the winner of Private Asset Management’s Best High-Net-Worth Insurance Company award,” said Tierney. “For more than three decades, Chubb has been the pioneer and leader in providing personal insurance and risk management services to high-net-worth individuals and families around the world.
“We have taken great care to understand the lifestyle of these valued clients and to provide them with some of the best coverages and services to help protect their families and assets from potentially devastating risks. This award, as well as many others we have received for our expertise, products and service around the world, is a clear indication that we remain the leading insurer in the high-net-worth marketplace.”
Tierney also noted that the PAM award recognizes that Chubb has a history of developing long-lasting relationships with wealth managers, family offices, private bankers, legal counselors, insurance agents and brokers, and other trusted advisers who serve high-net-worth clients. To help cultivate additional and deeper relationships with trusted advisers, Chubb recently formed a Center of Influence practice. In addition, in partnership with The Wharton School, Chubb created the Certified Advisor of Personal Insurance Program to help train high-performing agents and brokers on how to understand the needs and dynamics of high-net-worth individuals.