business insurance
Customarq for Law FirmsProperty and Liability Product comparison
Property Coverage Features Customarq for Law Firms
Typical Industry Policy (Rev. 6/07)
Automatic Blanket Limit $500,000 No
accounts receivable included not available
electronic Data Processing Property included Must Purchase, except electronic Data – $2,500 annual aggregate, named perils only
Fine arts included Treated as Personal Property
Leasehold interest – bonus Payment, Prepaid rent, sublease Profit, Tenants’ Lease interest
included Must Purchase (sublease Profit not available)
Leasehold interest – electronic Data Processing equipment included not available
Leasehold interest – undamaged Tenant’s improvements & betterments included not available
nonowned Detached Trailers included $5,000
Outdoor Trees, shrubs, Plants or Lawns included $1,000, not more than $250 for any one tree, shrub or plant
Pair and set included Must Purchase
Personal Property of employees included $2,500 including Personal Property of Others
Physical evidence included Treated as Personal Property or Valuable Papers
Public safety service charges included $1,000 (Fire Dept. service charges)
Valuable Papers included $2,500, named perils only
Property Features
any Other Locationaccounts receivable building components communication Property eDP equipment Fine arts Personal Property Physical evidence
$25,000 $25,000 $25,000 $75,000 $25,000 $50,000 $50,000
not available Treated as Personal Property Treated as Personal Property Treated as Personal Property Treated as Personal Property $10,000 at temporary or leased storage location only Treated as Personal Property or Valuable Papers
arson or Theft award 25% of loss, up to a maximum of $25,000
not available
burglary Damage to building (tenant) Yes, subject to Personal Property limit
not available
Debris removalPremises shown in Declarations any Other Location in Transit
$500,000 $50,000 $50,000
$10,000 not available not available
Deferred Payments $5,000 not available
electronic Data & Valuable Papers While at unspecified Premises $50,000 electronic Data - $2,500 annual aggregate, named perils only Valuable Papers - not available
electronic Data & Valuable Papers While in storage away From Premises $100,000 electronic Data - $2,500 annual aggregate, named perils only Valuable Papers - not available
exhibition, Fair or Trade showeDP Property Fine arts Personal Property
$25,000 $25,000 $25,000
Treated as Personal Property, but electronic Data is limited to $2,500 annual aggregate for named perils only Treated as Personal Property $10,000
Fungus cleanup or removal $50,000 annual aggregate
$15,000 annual aggregate (Fungus, Wet rot, Dry rot and bacteria)
installationany Job site in Transit
$5,000 $5,000
not available not available
in Transitaccounts receivable building components eDP Property Fine arts Personal Property Physical evidence Valuable Papers
$100,000 included included included included included included included
not available Treated as Personal Property Treated as Personal Property, but electronic Data is limited to $2,500 annual aggregate for named perils only Treated as Personal Property $5,000, named perils only Treated as Personal Property or Valuable Papers not available
Loss of Master Key $25,000 not available
Loss Prevention expenses $15,000 not available
Mobile communication Property (away from premises) $10,000 Treated as Personal Property
Money & securitiesOn Premises Off Premises
$25,000 $25,000
not available not available
newly acquired Premises or newly acquired or constructed Propertybuilding Personal Property Personal Property at existing Premises eDP equipment electronic Data & Valuable Papers communication Property Fine arts
180 days $2,000,000 $1,000,000 $100,000 $1,000,000 $150,000 $250,000 $25,000
30 days $250,000 $100,000 $100,000 Treated as Personal Property electronic Data - $2,500 annual aggregate, named perils only Valuable Papers - not available Treated as Personal Property Treated as Personal Property
Personal Property of Others included in Personal Property limit
$2,500
Pollutant cleanup or removal $50,000 annual aggregate
$10,000 annual aggregate
Preparation of Loss Fees $25,000 not available
research & Development Property $10,000 $2,500, Treated as Valuable Papers
underground pipes, flues and drains Yes no
Valuation
replacement cost Yes, on same or another site
Yes, on same site or another site; subject to cost at original site
Ordinance or Law Yes Lesser of 5% of building limit or $10,000 for increased cost of construction
selling Price on Finished stock Yes Must Purchase
brands & Labels Yes Must Purchase
extended Warranties Yes not available
construction Fees Yes Yes
Personal Property of Others replacement cost actual cash Value, unless replacement cost option purchased
Property/Income Perils
boiler & Machinery automatically included (electric arcing, mechanical breakdown and steam boiler explosion)
Yes Electric Arcing: no, with an exception for loss from ensuing fire Mechanical Breakdown: no, with an exception for loss from ensuing elevator collision Steam Boiler Explosion: no, with an exception for loss from ensuing fire or combustion explosion
Water damage (other than flood) including backup of sewers and drains, seepage, leakage or influx of water, surface water and mudflow
Yes no, with an exception for loss from ensuing fire, explosion or sprinkler leakage
Property Coverage Features Customarq for Law Firms
Typical Industry Policy (Rev. 6/07)
change in temperature or humidity Yes Yes, except Personal Property
Marring and scratching Yes Yes, except Personal Property
earth movement (other than earthquake) caused by mine subsidence, landslide, mudslide and volcanic eruption
Yes no, with an exception for loss from fire or explosion that ensues from earth movement; or fire, building glass breakage or volcanic action that ensues from volcanic eruption
Voluntary parting with property by trick or device Yes no
collapse Yes Yes, limited to listed causes of loss
artificially generated electrical current Yes no, with an exception for loss from ensuing fire
rain, snow, ice or sleet to personal property in the open Yes no
Business Income Coverages
extra expense $250,000 Must Purchase
any Other Location $50,000 not available
Dependent business Premises $250,000 worldwide Must Purchase
exhibition, Fair or Trade show $25,000 not available
Loss of utilities, including the internet $25,000 Must Purchase
newly acquired Premises $250,000/180 days $100,000/30 days
automatic extended Period of indemnity unlimited 30 consecutive days; can purchase up to 720 days
Ordinance or Law Yes Must Purchase
Preparation of Loss Fees $25,000 not available
Fungus cleanup or removal 45 consecutive days; subject to bi/ee limit
30 days; subject to bi/ee limit
ingress & egress $50,000 not available
civil authority 30 consecutive days; loss or damage must occur within one mile of insured’s premises
4 consecutive weeks; loss or damage must occur within one mile of insured’s premises
Pollutant cleanup or removal $25,000 not available
Lessor – Tenant relocation expenses $25,000 not available
Other Property/Business income Feature
impairment of computer services – Malicious Programming inside attack Outside attack (per occurrence) Outside attack (annual aggregate)
$100,000 (includes employees) $10,000 $50,000
$2,500 annual aggregate limit (interruption of computer Operations); excludes employees
General Liability Coverage Features Customarq for Law Firms (Rev. 4/01)
Typical Industry Policy (Rev. 12/07)
Who Is An Insured
Vendors automatically included as insureds Yes no
Lessors of equipment and premises automatically included as insureds Yes no
existing subsidiaries, including unscheduled partnerships, joint ventures and limited liability companies, automatically included as insureds
Yes no
new subsidiaries, including unscheduled partnerships, joint ventures and limited liability companies, automatically included as insureds to end of policy period
Yes no, limited to 90 days and no coverage for unscheduled partnerships, joint ventures or limited liability companies
employees, including leased workers and volunteer workers, are automatically insureds, including bodily injury to co-employees caused by cardiopulmonary resuscitation and first aid
Yes no
Directors, managers, members, officers, partners and supervisors are automatically insureds, including bodily injury to employees
Yes no
Property Coverage Features Customarq for Law Firms
Typical Industry Policy (Rev. 6/07)
Covered Exposures
Oral and written contractual liability: bodily injury/property damage Yes Yes
Written contractual liability: personal/advertising injury Yes no
Worldwide coverage territory for all covered suits brought in the u.s., its possessions or territories, canada or Puerto rico
Yes no
Medical expenses protection reporting period Yes, three years from date of accident
Yes, but limited to one year from date of accident
Medical expenses, including injury to insured’s tenants and persons working on insured’s behalf
Yes no
Definition of bodily injury includes humiliation, mental anguish, mental injury and shock resulting from physical injury
Yes no
Definition of personal injury includes discrimination, harassment and segregation (other than employment-related)
Yes no
Definition of advertising injury includes trademark infringement Yes, if registered collective mark, registered service mark or other registered trademarked name, slogan, symbol or title
no
nonowned aircraft – with crew Yes no
nonowned watercraft Yes, if less than 55 feet Yes, but limited to less than 26 feet
Pollution exclusion exceptionsHostile fire Off-premises operations Products/completed operations Leakage of fluids for mobile equipment at job sites Job site building materials building heating equipment
Yes Yes
Property damage (all-risk) to rented premises Yes no, peril of fire only and sublimited
War and insurrection Yes no
Limits of Insurance and Supplementary Payments
separate advertising/personal injury aggregate limit, not subject to general aggregate limit
Yes no
supplementary paymentsappeal bond amounts up to limit of insurance bail bond amounts up to limit of insurance Loss of earnings
Yes Yes Yes, $1,000/day
no no, limited to $250 bond cost Yes, limited to $250/day
indemnitee’s defense expenses payable in addition to limits Yes no, reduce limits unless conditions met
General Liability Coverage Features Customarq for Law Firms (Rev. 4/01)
Typical Industry Policy (Rev. 12/07)
Chubb Group of Insurance Companies | www.chubb.com
This comparison was prepared solely by chubb and highlights features of the policies referenced as of July, 2009 and is subject to change without notice. This chart is provided only as an aid in the basic comparison of chubb’s customarq for Law Firms package policy form with that of the Typical industry Policy. all statements are based upon good-faith, objective readings of the language of the policy forms referenced, without endorsement.
chubb refers to the member insurers of the chubb Group of insurance companies: Federal insurance company, Vigilant insurance company, Great northern insurance company, Pacific indemnity company, northwestern Pacific indemnity company, Texas Pacific indemnity company, executive risk indemnity inc., executive risk specialty insurance company, chubb custom insurance company, chubb indemnity insurance company, chubb insurance company of new Jersey, chubb national insurance company, chubb Lloyds insurance company of Texas.
not all insurers do business in all jurisdictions. This literature is descriptive only. actual coverage is subject to the language of the policies as issued.
Form 80-01-0053 (rev. 6/14)