Chubb Limited (NYSE:CB) recently added a suite of new coverages to its specialized clean tech industry insurance program. Chubb’s Clean Tech Sustainability Suite offers the necessary protection for property and business income to tech firms involved in research and development (R&D).
The Clean Tech Sustainability Suite caters to the requirements of present day clean tech companies. These companies build new products and services that contribute to environmental sustainability. Moreover, this suite of insurance coverages will enable the companies to further showcase their environmental sensibilities by reconstructing “green” if their facilities are damaged in a covered loss. The suite is available in the United States and Canada.
The suite comprises of a dedicated team of underwriters to protect the clean tech companies from risks. The Clean Tech Sustainability Suite includes Research & Development Property and Business Income Coverage, Green Standards Upgrade Coverage and Pollutant Cleanup Coverage.
Chubb provides a range of property and casualty (P&C) insurance products and risk engineering solutions to R&D, early stage and commercialized clean tech companies. These products allow such companies to efficiently manage risk during their evolution. The insurance coverages offer protection against any loss or damage to buildings or personal properties, R&D property, loss of milestone payments due to property loss or damage, and equipment breakdown, to name a few.
The addition of these new insurance coverages is the latest growth initiative undertaken by Chubb. We expect these products to complement the P&C insurer’s existing products and services.
Zacks Rank and Stocks to Consider
Currently, Chubb carries a Zacks Rank #3 (Hold). Some better-ranked stocks include Allied World Assurance Company Holdings, AG (NYSE:AWH) , National Interstate Corporation (NASDAQ:NATL) and NMI Holdings, Inc. (NASDAQ:NMIH) . 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.
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