Chubb launches Group Critical Illness Cover in Hong Kong SAR

HONG KONG, CHINA – Media OutReach –
26 February 2020 – Chubb announced the launch of Group Critical Illness Insurance
in Hong Kong SAR. With rising medical inflation, ensuring
sufficient coverage for critical illnesses is challenging and gaps are likely
to emerge. Employers stepping up to fill this gap will be seen as employers of
choice with a strong commitment to care for their employees.

 

Chubb’s Group Critical Illness Insurance has been designed to provide varying
levels of protection to cater to different needs. The plan has pre-set age
bands with fixed premiums without variation for gender or the need to declare
existing medical conditions. This facilitates easy purchase by employers so
they can protect their employees.

 

Highlights of this product includes^[1]:

1.      
Three different pre-set plans, with maximum limits
at HKD100,000, HKD200,000 and HKD300,000

2.      
Three coverage options: cancer only, three
critical illnesses or 36 critical illnesses

3.       Four age bands for insured employees: 20-45,
20-55, 20-60 or 20-65 years old

4.       Unisex premium

5.      
Unnamed basis

6.      
No medical check-up required / no medical
questionnaire

 

Stanley Wong, President of Chubb’s general insurance business in Hong
Kong SAR said, “Increasing advances in medical technology mean that most
diseases can be cured. However, the surging costs of the latest treatment and
medicine can be a heavy burden to many. By providing protection for
employees beyond the traditional coverage for death and disability, a
responsible and caring employer will certainly have an edge over others.”

For more information about Chubb’s Group Critical Illness Insurance,
please visit chubb.com/hk-en/business/group-critical-illness-insurance.aspx.

About Chubb

Chubb is the
world’s largest publicly traded property and casualty insurer. With operations
in 54 countries and territories, Chubb provides commercial and personal
property and casualty insurance, personal accident and supplemental health
insurance, reinsurance and life insurance to a diverse group of clients. As an
underwriting company, we assess, assume and manage risk with insight and
discipline. We service and pay our claims fairly and promptly. The company is
also defined by its extensive product and service offerings, broad distribution
capabilities, exceptional financial strength and local operations globally.
Parent company Chubb Limited is listed on the New York Stock Exchange (NYSE:
CB) and is a component of the S&P 500 index. Chubb maintains executive
offices in Zurich, New York, London, Paris and other locations, and employs
more than 30,000 people worldwide.

With both general
and life insurance operations, Chubb has been present in Hong Kong SAR for more
than 90 years via acquisitions by its predecessor companies. Its general
insurance operation in Hong Kong SAR (Chubb Insurance Hong Kong Limited) is a
niche and specialist general insurer offering products such as property, casualty,
marine, financial lines and consumer lines designed for large corporates,
midsized commercial & small business enterprises as well as retail
customers. The AA- long term insurer financial strength and counterparty credit
ratings by Standard & Poor’s are indicative of the company’s strong
capitalisation. Over the years, the company has built strong client
relationships by offering responsive service, developing innovative products
and providing market leadership built on financial strength.

More information
can be found at www.chubb.com/hk.