Chubb’s SPECTRA® for Properties provides named storm deductible buyback coverage for real and personal property, including business income, on a first layer or primary basis. Coverage can be purchased on a standalone basis or to cover an existing named storm property policy deductible.
Coverage Highlights
Benefits
- Admitted policy
- Suitable for managing high per occurrence named storm deductibles
- Suitable for managing multiple named storm occurrences within a single season
- Simple policy language that wraps the primary policy coverage to ensure seamless protection
- Follows form with primary policy
- Can be structured as an annual aggregate cap on wind deductible losses
Minimums & Limits
- Minimum deductible is $100,000 per occurrence/location
- Minimum premium is $100,000
- Limits up to $305 million
Target Client
- Hospitality
- Entertainment
- Manufacturing
- Real Estate
Hotel Deductible Buydown Case Study
When a catastrophe strikes, commercial property owners often face extremely high deductibles – sometimes into the tens of millions of dollars. Read more for a case study and an introduction to Chubb’s Hotel Deductible Buydown coverage.