A combination of financial strength, consistency of servicecapabilities on a global scale, as well as expertise inunderwriting, loss control, claims and certain business niches iswhy Chubb was cited as “Best Carrier Overall” in the first RiskManager Choice Awards survey, an executive for the companysaid.

Working in partnership with National Underwriter,Flasp?hler Research Group completed surveys with 411 risk managers,asking them to pick the best property and casualty insurancecarrier overall among those with which they are familiar, with over50 choices offered.

Among all respondents, 46.1percent overall cited Chubb–including 49.0 percent of those placingmore than $5 million in commercial premiums, and 45.9 percent ofthose placing below $5 million–making the carrier tops in all threecategories.

On individual lines of business, Chubb topped the Risk ManagerChoice list among all buyers of directors and officers insuranceand employment practices liability coverage.

In addition, in a separate section of the survey, Warren,N.J.-based Chubb finished second or third in all seven “evaluationand selection factors” buyers consider important when placingcoverage–underwriting capabilities, financial value, financialsecurity, client orientation, expertise and market knowledge,timely service and claims-handling.

Scott Gunter, chief underwriting officer of Chubb CommercialInsurance in Whitehouse Station, N.J., said the organization'sfinancial strength and strong ratings allows the carrier to provideservice capabilities consistently on a global scale.

Chubb's financial strength is critically important to get accessto capital, he added, as well as to remaining in markets–a crucialpoint of distinction for a carrier like Chubb, according to Mr.Gunter, because the company does not target all segments.

Instead, Chubb employs a niche strategy, picking areas where itbelieves it can bring the best value, he noted. “We're not in andout of markets,” he said, adding that when Chubb enters a segment,“we make sure it's something we want to do. That consistency isvery important to us and our clients.”

Consistency allows Chubb to develop worldwide expertise in thesegments in which it does business, said Mr. Gunter–who cited lifesciences as an example. He noted that Chubb is able to handle theexposures associated with clinical trials on a global basis thanksto its network of worldwide offices, and thus properly underwriteand service risks across borders.

Chubb's global presence also allows the company to respond if aninsured is expanding into a new foreign location–such as China, Mr.Gunter said.

He explained that customers appreciate the fact they can dealwith Chubb people around the globe, adding that most of Chubb'steams are well-tenured, having been with the company for a longperiod and growing though the ranks. “Most of these teams arehomegrown,” he said.

Expertise does not just relate to overall knowledge in a givenniche or market, but extends into underwriting, loss control andclaims, according to Mr. Gunter.

Risk managers rated Chubb second overall in underwriting basedon criteria such as “underwriters with authority to makedecisions,” and underwriters that are consistent in theirunderwriting decisions.

Mr. Gunter said success in these underwriting areas stems fromwhen Chubb first gets the risk from a broker with whom Chubb has a“capabilities meeting”–during which customer expectations andservice requirements are discussed.

He noted that many insureds have operations outside of theUnited States, and Chubb discusses with the broker the buyer'sneeds in all of its global markets.

When dealing with risk managers personally, Mr. Gunter saidbuyers interact with some of Chubb's most seasoned underwriters,who are folded into a team along with loss control experts tohandle a customer's particular segment of business.

On the claims side, risk managers also deal with senior Chubbpersonnel and get to know who will be in charge of their claims,Mr. Gunter said. He noted that Chubb sets up quarterly meetingswith insureds to discuss claims and loss control on a givenaccount.

Chubb, he said, is involved throughout the claims process ratherthan after the fact. If Chubb sees claims activity in a certainarea, loss control personnel will discuss that with the insured toprevent smaller problems from becoming larger ones, heexplained.

Mr. Gunter stressed the importance of claims to both Chubb andrisk managers. “That's what the customer isbuying–claims-handling,” he said.

In general, Mr. Gunter expressed gratitude toward risk managersfor recognizing Chubb. He said the award helps validate thecompany's strategy.

Part of that validation, he noted, is keeping accounts, alongwith praise from brokers. But he cited the importance of positivefeedback from Chubb customers themselves, most of whom aresophisticated buyers. “I take great pride in that,” Mr. Guntersaid, adding that the Risk Manager Choice Award represents “atremendous response from our insureds.”