Business Practices

As a global insurance company, Chubb is in the business of managing risk for our customers. That process-oriented discipline of risk management, intrinsic to our products and fundamental to our business, is consciously adopted by Chubb for our own exposures and embedded into our day-to-day business operations. Our approach is forward thinking, integrally linked to our key business objectives and intended to ensure sufficient financial strength over the long term to pay policyholder claims while simultaneously building and sustaining shareholder value.

Our Enterprise Risk Management (ERM) provides a cohesive approach to the identification, assessment, management and mitigation of risk, including such risk controls as policies, guidelines and authorities.

Learn More About How Chubb Manages Risk

Chubb is an underwriting company and we strive to emphasize quality of underwriting rather than volume of business or market share. Our underwriting strategy is to manage risk by employing consistent, disciplined pricing and risk selection. This, coupled with writing a number of less cyclical product lines, has helped us develop the flexibility and stability of our business, and has allowed us to maintain a profitable book of business throughout market cycles. Underwriting discipline is at the heart of our operating philosophy.

Learn More About Responsible Underwriting at Chubb

Information security and privacy are top priorities for Chubb. Chubb has taken a multidisciplinary and multi-faceted approach to protection of personal and corporate information. We use administrative (e.g., governance and policy), technical (e.g., security tools) and physical safeguards (e.g., locks and other physical security measures) designed to protect information in our care. We employ data protection strategies that are designed to monitor security threats as well as protocols to respond to them.

Learn More About How Chubb Safeguards Your Data

Strong corporate governance and shareholder rights are core values of Chubb. Our commitment to these principles is reflected on fundamental levels, ranging from our organization documents to policies, procedures, employee trainings and standards of conduct ingrained throughout our company. Chubb’s Board sets high standards for the company's employees, officers and directors, and corporate governance is an important part of who we are and how we conduct ourselves every day. Nowhere is this clearer than in our Code of Conduct.

Chubb Code of Conduct                                        

Our Board has adopted a Code of Conduct, addressing, among other things, conflicts of interest, corporate opportunities, confidentiality, fair dealing, protection and proper use of company assets, compliance with laws and regulations (including insider trading laws) and reporting illegal or unethical behavior.

Chubb recognizes that each employee is accountable for his or her actions, and that we must hold ourselves to exacting standards. The Chubb Code of Conduct affirms the company’s shared commitment to ethical behavior throughout the organization. It is applicable to all directors, officers and employees and guides our staff in their day-to-day activities by clearly defining the company’s expectations for ethical conduct.

See the Full Chubb Code of Conduct

Learn More About Corporate Governance at Chubb

Chubb actively supports the  United Nations Global Compact, the world’s largest corporate sustainability initiative. We are committed to aligning business operations with the Compact’s 10 principles, which address human rights, labor, the environment and anti-corruption. 

Established in 2000, the UN Global Compact is a voluntary initiative based on CEO commitments to implement universal sustainability principles.

Key components to committing to the Compact are public accountability and transparent disclosure of sustainability alignment efforts. Chubb filed its first annual report, “Communication on Progress,” in June 2018.

Overview of the Ten Principles of the UN Global Compact

Human Rights

Principle 1: Businesses should support and respect the protection of internationally proclaimed human rights; and

Principle 2: Make sure that they are not complicit in human rights abuses.

Labor

Principle 3: Businesses should uphold the freedom of association and the effective recognition of the right to collective bargaining;

Principle 4: The elimination of all forms of forced and compulsory labour;

Principle 5: The effective abolition of child labour; and

Principle 6: The elimination of discrimination in respect of employment and occupation.

Environment

Principle 7: Businesses should support a precautionary approach to environmental challenges;

Principle 8: Undertake initiatives to promote greater environmental responsibility; and

Principle 9: Encourage the development and diffusion of environmentally friendly technologies.

Anti-Corruption

Principle 10: Businesses should work against corruption in all its forms, including extortion and bribery.