How much liability insurance to buy, to adequately protect against the unexpected, is a critical decision every risk manager must make. Unfortunately, bad things can happen to the very best of companies, and no-one wants to be under-insured if and when a large catastrophic loss occurs.

3 Common Questions to Ask Yourself

Chubb Bermuda’s annual Liability Limit Benchmarks and Large Loss Profile has been developed as a tool to assist in the decision-making process around how much liability insurance limit is enough. Now in its eighth year of publication, our report provides data to address three common, yet key, questions we frequently hear from our clients:

  1. What size of liability limits are peers in my industry sector(s)
  2. What large losses and historical frequency/severity patterns have
    occurred in my industry sector(s)?*
  3. What newly developing or changing risks and exposures are on the
    horizon in my industry sector(s)?*

Have You Considered This?

This year we are pleased to expand our report to include additional items for consideration when deciding how much limit is enough:

  • A summary extract from Chubb Bermuda’s 2016 Review of the U.S. Punitive Damages Liability Landscape paper that presents data showing punitive damage awards granted at trial are more prevalent than previously thought.
  • Highlighted auto liability losses across all industry sectors. Every company in every industry has auto or fleet liability exposure to some degree and, despite significant improvements in general automotive safety, collisions and crashes remain high on the top ten list of large liability losses.
  • Batch or Integrated Occurrence claim scenarios in the Healthcare sector.

*Average liability limits purchased by industry sector are based entirely on Chubb Bermuda’s 2016 Excess Liability portfolio. Large loss data has been compiled from publicly available sources only, and our snapshot of emerging exposures is a combination of both internal and external input.

We continue to look for ways to expand and customize the Chubb Bermuda Liability Limit Benchmarks & Large Loss Profile to assist our clients, both current and prospective, in reaching an informed decision as to how much liability limit is enough.

Adequately Protect Against The Unexpected

Our tool will help you review the liability issues that relate to your industry sector — so you can decide how much limit is enough.

The information contained in this document is intended for general marketing purposes and information only. For terms and conditions of coverage, please refer to the specific policy wording.

This information is intended to be illustrative of the average limits of liability being purchased by companies within particular industry sectors, and of notable large loss industry events which have given rise to liability claims. The Estimated Loss Amounts may or may not include defense costs. The Estimated Loss Amounts shown for earlier years have not been trended or developed. No inference should be drawn from this loss information that such an event or resultant liability claim would (or would not) be covered by a Chubb Policy.

Chubb Bermuda is regulated by the Bermuda Monetary Authority. It is not licensed in the U.S. as an admitted insurer nor is it an eligible excess and surplus lines insurer.