Chubb, the global US insurer, has revamped its home and motor insurance offerings to include cyberbullying coverage to private clients policyholders, after feedback from brokers.
Policyholders who become victims of cyberbullying will be able to claim up to £50,000 towards professional support, lost income and temporary relocation costs.
The additional cover which comes under the home policy will provide not only the policyholder but also their family members support if online harassment causes them to miss work, school or college
Cyberbullying is defined by the insurer as “three or more acts by the same person or group to harass, threaten or intimidate a customer”
The policy changes came into effect last month for new business and will be made available for renewals from the 1st January 2016.
The new, improved and amended home and motor covers introduced within the company is a response to an extensive research to establish how to further enhance the quality of its products and services.
The research was conducted by YouGov in June to August 2014 on behalf of Chubb through a survey of brokers and UK and Ireland target consumers. The research revealed several areas where policyholders’ offerings could be made more competitive by including new threats covers.
Tara Parchment, UK and Ireland Private Clients Manager, said: “We’ve listened to the needs of our brokers and their clients, having engaged YouGov to undertake our biggest – ever research project. We learned a lot about the changing environment that we work in – clients want ever – faster service and brokers wanted us to create more innovative, differentiating covers.”
Ms Parchment added: “We are very proud about our new offering, which represents another Chubb milestone in bringing innovative covers and added – value services to the private clients market. We wanted our policies to reflect the changing nature of the risks that policyholders may face, often against themselves rather than their possessions. Consequently, we have introduced cyber – bullying, student fees and assault cover as standard.