Chubb responds to Child Victims Act allegations

Chubb responds to Child Victims Act allegations | Insurance Business America

Claims

Chubb responds to Child Victims Act allegations

New briefing filed with NY Supreme Court

Claims

By
Terry Gangcuangco

Chubb has issued a response following allegations it breached the Child Victims Act (CVA) in New York.

“The Archdiocese of New York has the financial resources to pay compensation to victims right now, and it should do so immediately,” a Chubb spokesperson told Insurance Business after the insurer was cited as among those allegedly neglecting CVA-related claims.

“The Archdiocese knows that insurance policies cover damages from accidents. You can’t buy insurance for intended acts.

“The Archdiocese has acknowledged many of the plaintiffs’ allegations that it concealed, tolerated, and abetted child molestation, which continued for decades because of the Archdiocese’s cover-up and its unconscionable failure to stop the abuse when it had the knowledge and opportunity to do so.”

The statement comes on the heels of a letter sent by Assemblymember Linda B. Rosenthal and Senator Brad Hoylman-Sigal to Department of Financial Services (DFS) Superintendent Adrienne Harris, asking that the issue of CVA claims be looked into.

They wrote: “It has come to our attention that some insurance companies may not be complying with the guidance issued by DFS in Insurance Circular Letter No. 11 of September 12, 2019, and therefore the law as set forth in the CVA.

“We ask that your office investigate this issue and let us know how DFS plans to ensure that insurers comply with the law and do so in an expeditious manner.”