Chubb has extended its broker-distributed business pack product, as it looks to become a significant player in the SME sector.
A year ago the global insurer identified Australia as a priority market for SME growth, and a six-month pilot was established last July, focusing on certain trades.
It was successful, and Chubb has now rolled out its SME platform across most trades. The expanded product covers 16 industry segments and 300 occupations.
Chubb says its business pack aims to provide broad coverage for property and liability exposures.
It includes standard coverage for business interruption, general property damage, public and products liability, machinery and equipment breakdown, theft, money and tax audits.
It also includes protection against cyber and environmental liability.
The product is tailored to Australian businesses with turnover up to $10 million, and is available exclusively through insurance brokers.
Chubb has appointed Matthew Head as SME Manager Australia and New Zealand, based in Melbourne.
“Brokers have been eager for Chubb to expand its offering to the SME segment across more industries and we are pleased to deliver that,” Country President for Australia and New Zealand Jarrod Hill said.