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Chubb (CB) Announces Global Cyber Facility Suite Expansion
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Chubb Limited (CB - Free Report) recently expanded its Global Cyber Facility, which offers up to $100 million in capacity, with the enhancement of multiline cyber peril endorsements. The new cyber suite will assist risk managers in identifying exposure gaps in their insurance portfolios, which in turn, will enable them to confidently address the concerns of their C-Suite and Board.
Risk managers and chief information security officers are set to benefit from the newly introduced cyber suite as it will help them to fully understand the total cyber risk of their organization.
Chubb remains focused on ensuring that its clients and brokers receive necessary insurance products and services. Based on feedback from such clients regarding concerns about gaps in insurance portfolio, the property and casualty (P&C) insurer has created a detailed road map of loss scenarios to assess these gaps within the marketplace with respect to cyber, property and casualty policies. The assessment resulted in the formation of the Global Cyber Facility Property and Casualty Endorsements. The clients can customize these endorsements to overcome the shortcomings of their specific policy portfolio.
The P&C insurer’s Chubb Global Cyber Facility was launched in 2015. This comprises sophisticated enterprise-wide solution that not only allows companies to identify cyber breaches but also offers access to post breach services and integration of loss control services to mitigate losses.
We believe that these initiatives will continue to boost the company’s cyber insurance portfolio, which has immense room for growth.
Since the release of fourth-quarter 2016 earnings, Chubb shares gained 1.89%, outperforming the Zacks categorized Property and Casualty industry’s growth of 1.51%. Substantial improvement in the bottom line drove the outperformance. Robust premium and investment income performance were particularly responsible for the upside. Further, we expect the P&C insurer’s strategic initiatives to accelerate growth, which in turn, will drive shares higher.
American Financial offers P&C insurance products in the United States. The company delivered positive surprises in three of the last four quarters with an average beat of 6.45%.
Everest Re offers reinsurance and insurance products. The company delivered positive surprises in three of the last four quarters with an average beat of 43.49%.
Selective Insurance provides insurance products and services in the United States. The company delivered a positive surprise in one of the last four quarters, but with an average negative surprise of 4.53%.
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Chubb (CB) Announces Global Cyber Facility Suite Expansion
Chubb Limited (CB - Free Report) recently expanded its Global Cyber Facility, which offers up to $100 million in capacity, with the enhancement of multiline cyber peril endorsements. The new cyber suite will assist risk managers in identifying exposure gaps in their insurance portfolios, which in turn, will enable them to confidently address the concerns of their C-Suite and Board.
Risk managers and chief information security officers are set to benefit from the newly introduced cyber suite as it will help them to fully understand the total cyber risk of their organization.
Chubb remains focused on ensuring that its clients and brokers receive necessary insurance products and services. Based on feedback from such clients regarding concerns about gaps in insurance portfolio, the property and casualty (P&C) insurer has created a detailed road map of loss scenarios to assess these gaps within the marketplace with respect to cyber, property and casualty policies. The assessment resulted in the formation of the Global Cyber Facility Property and Casualty Endorsements. The clients can customize these endorsements to overcome the shortcomings of their specific policy portfolio.
The P&C insurer’s Chubb Global Cyber Facility was launched in 2015. This comprises sophisticated enterprise-wide solution that not only allows companies to identify cyber breaches but also offers access to post breach services and integration of loss control services to mitigate losses.
We believe that these initiatives will continue to boost the company’s cyber insurance portfolio, which has immense room for growth.
Since the release of fourth-quarter 2016 earnings, Chubb shares gained 1.89%, outperforming the Zacks categorized Property and Casualty industry’s growth of 1.51%. Substantial improvement in the bottom line drove the outperformance. Robust premium and investment income performance were particularly responsible for the upside. Further, we expect the P&C insurer’s strategic initiatives to accelerate growth, which in turn, will drive shares higher.
Stocks to Consider
Some better-ranked stocks from the same space include American Financial Group, Inc. (AFG - Free Report) , Everest Re Group, Ltd. and Selective Insurance Group, Inc. (SIGI - Free Report) . Each of these stocks sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
American Financial offers P&C insurance products in the United States. The company delivered positive surprises in three of the last four quarters with an average beat of 6.45%.
Everest Re offers reinsurance and insurance products. The company delivered positive surprises in three of the last four quarters with an average beat of 43.49%.
Selective Insurance provides insurance products and services in the United States. The company delivered a positive surprise in one of the last four quarters, but with an average negative surprise of 4.53%.
Zacks' Top Investment Ideas for Long-Term Profit
How would you like to see our best recommendations to help you find today’s most promising long-term stocks? Starting now, you can look inside our portfolios featuring stocks under $10, income stocks, value investments and more. These picks, which have double and triple-digit profit potential, are rarely available to the public. But you can see them now. Click here >>