Chubb Appoints Industry Veteran to Lead Flood Insurance Practice

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Sep 24, 2019, 10:14 ET

Move reinforces commitment to providing better access to flood protection across North America

WHITEHOUSE STATION, N.J., Sept. 24, 2019 /PRNewswire/ -- Chubb announced that Louis Hobson has joined the company as Senior Vice President of Flood Insurance for its North America operations. In this new role, Mr. Hobson will work in conjunction with Chubb's personal and commercial lines of business, and lead efforts centered on the development and implementation of strategies to further broaden the delivery of Chubb's robust suite of flood coverage offerings throughout North America. He will also have responsibility for underwriting, strategy, and product development, as well as share profit and loss (P&L) performance responsibilities with business leaders of Chubb's personal and commercial lines.

"Chubb recognizes that extreme weather events are increasing in both frequency and severity, which is why we have deployed a flood center of excellence focused on providing greater flood protection to our personal and commercial clients," said Derek Talbott, Division President of Chubb's North America Property & Specialty Lines. "Our flood practice is designed to meet the needs of those businesses and consumers who are currently underserved by existing public offerings available in the marketplace. The benefits of private flood insurance include more comprehensive coverage and higher limits than what is currently available."

Prior to joining Chubb, Mr. Hobson served in a variety of senior leadership positions including Chief Executive Officer of National Flood Services, one of the largest U.S. providers of technology-enabled risk and business process services in flood insurance, Executive Vice President of Aon National Flood Services, and Principal at the Boston Consulting Group.

"Chubb's flood center of excellence, with Louis at the helm, underscores Chubb's commitment to providing better access to comprehensive flood insurance, enabling us to more effectively address the needs of our customers," added Mr. Talbott. "Louis' background and extensive experience in this area serves as a strong complement to our industry-leading underwriting, servicing, and claims handling capabilities."

"Flooding is the most common and costly natural disaster, and everyone is susceptible to flooding," said Mr. Hobson. "Better education about the associated risks and the need to have the right protection in place is paramount. There is an enormous opportunity to increase the adoption of flood insurance and I will focus on working with our broker and agent partners to increase overall awareness about this type of exposure and the Chubb solutions available to help their clients ensure the right protections are in place."

Mr. Hobson earned his MBA and a Bachelor of Science in Electrical Engineering from Stanford University. Based in Chicago, he will report to Mr. Talbott.

About Chubb
Chubb is the world's largest publicly traded property and casualty insurance company. With operations in 54 countries and territories, Chubb provides commercial and personal property and casualty insurance, personal accident and supplemental health insurance, reinsurance and life insurance to a diverse group of clients. As an underwriting company, we assess, assume and manage risk with insight and discipline. We service and pay our claims fairly and promptly. The company is also defined by its extensive product and service offerings, broad distribution capabilities, exceptional financial strength and local operations globally. Parent company Chubb Limited is listed on the New York Stock Exchange (NYSE: CB) and is a component of the S&P 500 index. Chubb maintains executive offices in Zurich, New York, London, Paris and other locations, and employs more than 30,000 people worldwide. Additional information can be found at: chubb.com.

Chubb Insurance Company of Canada has offices in Toronto, Calgary, Montreal and Vancouver and provides its products and services through licensed insurance brokers across Canada. For additional information, visit: chubb.com/ca.

SOURCE Chubb