Leipsic Private Risk Management - Products

By: Leipsic  09-12-2011
Keywords: Innovative Products, liability insurance, Personal Property

Our insurers offer clients confidence in the risks they may face through:

Financial Stability

Superior Underwriting

Dedication to Service

Ultimately leading to superior claim resolution and peace of mind.

Key Facts




Market Reach Global Global Canada and USA
Product offering Masterpiece Suite Private Client Group Guarantee Gold
Stock Symbol CB (NYSE) AIG (NYSE) Privately held
Website Address
Approx. # of personal lines brokers (Canada) 325
42 Cornerstone
(Private Client Group)
(Guarantee Gold)
2009 Net Premiums Earned (Canada)1 $619 M $597 M $251.5 M
2009 Canadian Net Premiums Written Ranking1 #14 #16 #25
Minimum Capital Test2 (OSFI target = 150%) 320% 286% 301%
Canadian Industry Average: 236%
AM Best Financial Strength A++ (Superior) A (Excellent) A (Excellent)
AM Best Financial Size XV (> $2,000 M) XV (> $2,000 M) IX ($250-500 M)
AM Best Credit Rating AA+ A A

Chubb Insurance Company of Canada and Chartis Private Client Group are recognized as a leading insurer to fortune 500 CEOs.

Key Policy Highlights

  • Replacement cost valuations provided on all residences/properties.
  • Full replacement of property guaranteed, regardless of inflation or increased material/labour costs.
  • Option to take a cash payment equal to the replacement cost for both residences and personal belongings in the event of a loss.
  • Jewelry and fine art appraisals not required on individual items valued at under $50,000, and $100,000, respectively. 150% replacement value available for jewelry and fine arts.
  • Worldwide coverage available for personal property and liability including excess auto liability. This includes coverage for physical damage and third party liability for rented/borrowed vehicles.
  • No visitation required on secondary properties for coverage to apply: only reasonable care required.
  • Personal liability coverage available with limits up to $100 million.
  • Liability insurance included for directors/officers of non-profit organizations. for rented/borrowed vehicles.
  • Personal Injury protection included for defamation of character, libel, slander.
  • Unlimited sewer backup included.
  • Other available features include coverage for equipment breakdown, home invasion, kidnap and ransom, stalking, and employment practices liability, among others.

Our insurers maintain excess capital far exceeding minimum requirements, demonstrating superior financial stability and ability to pay claims.

Operational Investment & Profitability: Combined Ratios

Our insurers offer superior underwriting ability allowing them to provide innovative products and services not readily available in the marketplace, ultimately minimizing client exposure to financial loss and leading to impressive financial strength.
Combined ratio measures an insurer's underwriting profitability. Ratios below 100% indicate an insurer's ability to make profit on the premium they collect. For example, Chubb, Chartis, and GCNA's 5-year combined ratios are 87%, 82%, and 95%, respectively, compared to the industry average of 99%. This includes claims paid and operational investment over 5 years, yielding a remaining underwriting profit of 13%, 18%, and 5%, respectively. Spread between the claims ratio and combined ratio is 31% for Chubb, 21% for Chartis, and 34% for GCNA, compared to the industry average of 29%, which demonstrates both operational efficiency and reinvestment.
  • [Disclaimer] Policy highlights listed above vary among insurers and are subject to terms and conditions. Please see policy wordings for complete and specific coverage details.
  • 1Canadian Insurance Top Broker 2010 Statistical Issue, based on 2009 financial data
  • 2Minimum Capital Test is a standardized test of financial strength governed by Government of Canada, www.osfi-bsif.gc.ca (Q2/2010)
The information in this article was current at 06 Dec 2011

Keywords: Innovative Products, Insurers, liability insurance, Personal Property, Underwriting Ability

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