ACE Insurance Aid Pacific Limited, Pakistan - Details

The biggest P&C insurer in the world and the biggest commercial insurer in the United States are both Chubb. Chubb serves a wide range of customers by offering reinsurance, life insurance, personal accident and supplemental health insurance, commercial and personal property and casualty insurance, and personal property and casualty insurance through operations in 54 countries and territories.

1. Introduction – ACE Insurance Aid Pacific Limited, Pakistan

As an underwriting firm, we carefully consider, take on, and control risk. We handle our disputes honestly and quickly. In order to create, develop, and provide the greatest insurance coverage and service to people, families, and businesses of all kinds, we combine the accuracy of craftsmanship with decades of experience. The parent company of Chubb is a member of the S&P 500 index and is traded on the New York Stock Exchange (NYSE: CB).

1.1  Chubb in Pakistan

Since 1948, Chubb and its predecessor businesses have operated in Pakistan. Chubb Insurance Pakistan Limited, Pakistan is a fully owned subsidiary of Chubb INA International Holdings Limited, a public limited company with no stock market listing in Pakistan.

As a member of the Chubb Group, Chubb Pakistan can provide the market with significant, highly regarded capacity. Chubb is a pioneer in the field of direct marketing for A&H insurance and is a top insurer of property, construction, power generation, and marine risks in the nation.

Chubb offers specialized goods and knowledge to the market in addition to its core business areas. Cyber Risk Insurance, Directors & Officers Liability, Life Sciences, Public / Product Liability, Event Cancellation Insurance, and Environmental Risk Cover are a few of the specialty insurance products offered by Chubb Pakistan.

The company’s highly skilled crew is ready to meet the needs of Pakistani clients and brokers. Chubb Pakistan has a VIS Credit Rating Company Limited rating of AA+(IFS) (Double A Plus IFS).

2. Details – ACE Insurance Aid Pacific Limited, Pakistan

2.1 Values – ACE Insurance Aid Pacific Limited, Pakistan

Chubb values are:

1. Integrity: We comply with all applicable laws regulations and company policies in our words and in our deeds. Honesty, Character and Ethical Behavior guide us to do the right thing.
2. Client Focus:  We are committed to our clients. We strive to understand their risks, we make promises and we keep them.
3. Respect: We value our employees, partners and communities. We are dedicated to fair treatment, diversity, trust and mutual respect.
4. Excellence: We recognize and reward excellence in the workplace. Performing at the highest level requires us to think and act like owners.
5. Teamwork: We believe an environment of open communication and collaboration produces results. We encourage full participation, different perspectives, constructive criticism and a sense of pride in who we are and what we do.

2.2 Mission Statement – ACE Insurance Aid Pacific Limited, Pakistan

Chubb is committed to being a leader in the global insurance and reinsurance market by always conducting business in a consistent, disciplined and focused manner. We provide:

• Superior Client Value
• Superior Shareholder Value
• Superior Employee Value

3. Intro Video – ACE Insurance Aid Pacific Limited, Pakistan

4. Types of Insurances – ACE Insurance Aid Pacific Limited, Pakistan

Insurances offered by the company are

4.1 Cyber Risk Insurance – ACE Insurance Aid Pacific Limited, Pakistan

Cyber security is a growing concern in today’s connected world, but some companies may not take their responsibilities seriously. Companies often do not fully understand their cyber and data privacy risks until an event occurs. Chubb, a global leader in cyber insurance, offers worldwide experience, capability, and local underwriting and risk management expertise to help businesses move forward confidently.

4.1.1 It Covers

1. Loss of business owing to a breach in network security, an attack, programming mistakes, or human error.
2. Decontamination and recovery steps are included in data loss and restoration.
3. Costs associated with incident response and investigation, supported by an on-demand vendor network and a 24/7/365 multilingual incident reporting hotline.
4. The costs of a business interruption event in terms of delays, disruptions, and acceleration.
5. The price of using a contractual indemnification, including legal fees.
6. Costs associated with reputational damage and crisis communications.
7. Liability for failing to protect data confidentiality.
8. Liability resulting from unauthorized network use.
9. Blackmail or network extortion (where insurable).
10. Media liability online.
11. Investigations into regulations cost money.

4.2 Directors & Officers Liability – ACE Insurance Aid Pacific Limited, Pakistan

Companies face complex laws and regulations, increasing litigation risk. With over 30 years of experience, Chubb offers market-leading protection for executives and senior management, offering Directors & Officers insurance products to cater to various business needs.

4.2.1 It Covers

Comprehensive cover for the directors and officers of publicly listed and private companies against defense costs and legal liability incurred from:

1. Wrongful acts
2. Errors and omissions
3. Misstatement
4. Negligence
5. Breach of duty

4.3 Worldwide Marine Cargo Insurance – ACE Insurance Aid Pacific Limited, Pakistan

Expanding business increases transport risks; Chubb’s innovative cargo solutions provide protection from origin to destination.

4.3.1 Coverages & Services

1. Ocean/Air Transit Insurance for goods in international trade, as well as inland transit
2. Controlled Master Programs with locally written underlying policies where required and permitted by law
3. Multiline coverage when combined with other Chubb products
4. Project Cargo
5. Tailored engineering, including marine risk management services

4.3.2 Target Clients

1. Exporters
2. Importers
3. Manufacturers
4. Logistics companies and businesses that ship unusual or distinctive product

4.4 Property – ACE Insurance Aid Pacific Limited, Pakistan

To fit your specific needs, Chubb can offer comprehensive full-limit (package or monoline), primary, and excess property insurance.

4.4.1 Coverage

1. All-risk property insurance
2. Customary property and business interruption insurance

4.4.2 Target Clients

1. Real Estate and Hospitality
2. Business Services
3. Communications and Telecommunications
4. Financial Services
5. Healthcare
6. Educational Institutions
7. Manufacturing
8. Retail
9. Technology

4.5 Equipment Breakdown – ACE Insurance Aid Pacific Limited, Pakistan

On a monoline and package basis, Chubb provides extensive equipment breakdown coverage.

4.5.1 Benefits

Off-the-shelf equipment breakdown insurance for a variety of industries

Wide choice of options allows you to customize the policy to your specific needs

4.5.2 Expert Claims Handling & Loss Control

Our reputation for claim handling excellence stems from a focus on getting you back to business as soon as possible after a loss. A dedicated equipment breakdown claim unit provides superior service through our consistent, team-oriented approach.

4.5.3 Target Clients

1. Schools, Colleges and Universities
2. Commercial Real Estate
3. Hospitals and Nursing Homes
4. Manufacturing
5. Food Processing and Cold Storage
6. Hotels and Motels
7. Publishing and Printing
8. Communications and Broadcasting
9. Life Sciences and Biotech Companies
10. Museums and Cultural Institutions
11. Electronics
12. Chemical Manufacturers

4.6 Commercial General Liability – ACE Insurance Aid Pacific Limited, Pakistan

A variety of liabilities loss exposures are covered by commercial general liability insurance.

4.6.1 Product Highlights

1. Commercial General Liability insurance can be purchased either packaged with property insurance, or monoline.

• It addresses a wide range of liability loss exposures, falling into two categories:
• Premises and operations liability — liability for conditions or activities arising out of the premises or operations of a company
• Products and completed operations liability — liability of a company to a user who is harmed by products manufactured, sold or distributed by the company
• Commercial General Liability policy can be purchased on an occurrence basis or a claim-made basis.

4.6.2 Product Features

Provides primary protection for bodily injury, property damage, and personal injury to a third party for which a company is liable. Vendors, lessors of premises, lessors of equipment and employees may be included as insureds

4.6.3 Global Capabilities

Chubb can insure domestic and foreign exposures, including protection against differences in conditions / differences in limits contained in policies issued in a foreign country.

4.7 Travel Insurance – ACE Insurance Aid Pacific Limited, Pakistan

Travel insurance is a policy that provides international coverages and services for clients who travel for business or pleasure, and is available as a per-trip or annual policy. It helps in crises and makes travel easier for customers.

4.7.1 Coverage Highlights

The policy offers consumers access to insurance coverage, services, and resources that improve their travel security and peace of mind. It includes a variety of benefits, from travel emergencies to travel conveniences.

Plans Include:

1. Accidental Death & Dismemberment
2. Excess Medical Expense
3. Travel Inconvenience benefits such as Trip Delay and Baggage Delay coverage
4. Assistance Services:  Emergency Medical Services, Medical Evacuation and Repatriation.

Optional Upgrades:

Trip Cancellation/Trip Interruption

4.8 Enhancement Insurance Products – ACE Insurance Aid Pacific Limited, Pakistan

Chubb Accident & Health offers customizable accident and travel products for financial institutions and associations, enhancing membership offerings and attracting new members, while also promoting customer loyalty.

4.8.1 Standard Package Options

• Hospital Accident: AD&D with In-hospital benefit, ER ICU and Recuperation Cash benefits
• Family Care: AD&D with Child Care Expense benefit and Education expense benefits
• Trip Coverage: Common Carrier AD&D with Lost Luggage benefit and Trip Cancellation benefits

4.8.2 Chubb Insurance products offered through Jazz Cash

• Mahfooz Mustaqbil Plan
• Income Protection Plan – Suspended 2023
• Child Protection Plan – Suspended Dec 2022
• Income Protection Plan Revised

5. Branches – ACE Insurance Aid Pacific Limited, Pakistan

• ACE Insurance branch is located in Karachi. 
• Address: 6th Floor, NIC Building, Abbasi Shaheed Road, off: Shahrah-e-Faisal Karachi
• Phone: 9221 3567 2913
• Fax: 92-21-3568-3935
  Email: pakistan@chubb.com

6. Required Documents – ACE Insurance Aid Pacific Limited, Pakistan

Required Documents for Travel Claim Form:

1. Copy of charge form(s) verifying that relevant flight tickets were charged to the
2. American Express Card
3. Copy of Flight Ticket & Travel Itinerary
4. Copy of charge form(s) and all original receipts verifying the expenses for which
5. reimbursement is claimed is/are charged to the American Express Card
6. Written confirmation from the Airline of the delay and reason(s) behind it (for
7. Flight delay / Cancellation
8. Property Irregularity Report from the Airline / Airport (e.g. airline report on delay & reason)
9. Confirmation of receipt of luggage (for Luggage delay)

7. Board of Directors – ACE Insurance Aid Pacific Limited, Pakistan

Board of Directors of ACE insurance company are :

8. Clients – ACE Insurance Aid Pacific Limited, Pakistan

Companies working with ACE Insurance is;

• Jazz Cash

9. Online Helpline – ACE Insurance Aid Pacific Limited, Pakistan

1. Address: 6th Floor, NIC Building, Abbasi Shaheed Road Off Shahrah-e-Faisal, Karachi 74400
2. Phone number: 92-21-111-789-789 /0800 54321
3. Fax: 92-21-3568-3935
4. Email: pakistan@chubb.com

10. Verification – ACE Insurance Aid Pacific Limited, Pakistan

https://jamapunji.pk/verify/licensed-entity-detail/ace-insurance-limited

11. Disclaimer – ACE Insurance Aid Pacific Limited, Pakistan

• If the Ace Insurance Aid Pacific Limited, Pakistan have not resolved your concern satisfactorily, you may file a complaint with the Securities and Exchange Commission of Pakistan (SECP).
• Please keep in mind that SECP will only consider complaints that were initially asked to be resolved directly by the firm and were not resolved.
• Furthermore, complaints that are not related to the SECP’s regulatory domain/competence will not be considered.

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