Starr to directly underwrite technical risks property insurance
Starr to directly underwrite technical risks property insurance | Insurance Business America
Insurance News
Starr to directly underwrite technical risks property insurance
Change concludes 17-year partnership with Chubb
Insurance News
By
Ryan Smith
Starr Insurance Companies has announced that as of April 23, the group now directly underwrites its property – technical risks coverage through its own insurance companies.
The change concludes a 17-year relationship with Chubb, Starr said.
Starr said the transition of its complex risks and energy property business to its own insurance companies should be seamless for customers.
Clients will continue to work directly with Starr’s team, who will use the same approach to technical risk management and offer the same capacity levels and customer service, the company said. The only difference is that Starr’s insurance companies will now be the named entities issuing the policies.
“We’ve been underwriting the complex risks and energy property business for more than 55 years,” said Richard Shaak, president of international insurance and Starr Tech. “We thank Chubb for its support throughout this relationship.”
Starr Insurance Companies has a presence on six continents. The group’s insurance company subsidiaries are domiciled in the US, Bermuda, China, Hong Kong, Malta, Singapore, Switzerland and the UK.
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