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Chubb increases terrorism insurance limits

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Chubb Ltd. on Monday said it has increased capacity for terrorism, political violence and war risks to $150 million from $100 million.

It also increased its European Union limits to €150 million from €100 million ($168 million from $112 million).

The move was “in response to evolving threats and increased demand from multinational clients,” Chubb said in a statement, adding that it “has increased its terrorism and political violence capacity per account by 300% in the last two years.”

The new limits will be available to brokers and their clients internationally and are aimed at large, multinational businesses with growing global exposures, said the statement.

“The increase in capacity demonstrates our commitment to responding to growing client demand for certainty and comprehensive cover across the full range of perils,” Piers Gregory, terrorism and political violence underwriting manager, overseas general insurance at Chubb, said in the statement.