Chubb Assembles Team to Focus on Green Energy Insurance Solutions
WARREN, NJ, August 15, 2007 - In response to the accelerating development of environmentally friendly energies, products and technologies, the Chubb
Group of Insurance Companies has formed a green energy team, made up of experienced underwriters and loss control specialists.
The team will further develop core commercial insurance products and services geared toward customers that operate within
this sector.
The team will build on Chubb's long history of expertise in and commitment to the renewable and green energy market. For the
past 20 years, Chubb has been insuring and assessing risks for renewable energy producers and distributors, including wind
turbines, ethanol and biodiesel plants, solar energy systems, hydroelectric power generators and other renewable energy operations.
"Chubb has served the energy sector for decades, and as the marketplace has become more environmentally aware, we have broadened
our expertise to meet its insurance needs," said Peter Thompson, vice president, Chubb & Son, and worldwide energy manager
for Chubb Commercial Insurance. "The creation of Chubb's green energy team will allow us to look beyond traditional renewable
energy production and distribution risks and explore the insurance and loss control issues facing our other commercial customers."
Building on its underwriting and loss control expertise in the energy sector, Chubb will broaden its strategic scope for clients
in these areas:
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Power generation (including wind, solar and geothermal);
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Renewable and clean fuels (ethanol, biodiesel and fuel cells);
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Alternative energy devices (solar panels, wind turbines and other devices);
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Energy-efficient products (compact fluorescent lighting, HVAC systems, office equipment and other products); and
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Renewable energy users, including businesses with energy-efficient and environmentally friendly properties.
"Providing insurance to this growing sector is a means to support the development of the alternative energy marketplace,"
Thompson said. "With this initiative, we will gain a deeper understanding of the industry and identify new product needs for
the array of businesses involved with or affected by renewable energy."
The member insurers of the Chubb Group of Insurance Companies form a multi-billion dollar organization providing property
and casualty insurance for personal and commercial customers worldwide through 8,500 independent agents and brokers. Chubb's
global network includes branches and affiliates in North America, Europe, Latin America, Asia and Australia.
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