What Are the Key Differences Between Chubb and Risklytics General Liability Insurance?
Robotics Specialist vs Broad Small-Business Appetite
Risklytics says generic insurers get wary of machines working around people, so it places general liability with carriers that want robotics and hardware risk. [9] Chubb writes it for more than 500 business classes, including technology, healthcare, retail and manufacturing. [2] Choose Risklytics if you build robots, autonomous systems or other hardware that has scared off insurers; choose Chubb if you run a conventional business and want one package from a single insurer.
Broker Placement vs a Chubb Package
Risklytics is a licensed producer that places the policy with outside carriers; it doesn't name them, and the issuing insurer shows up on the bound policy. [8] It says it charges no broker fee on top of the premium. [10] Chubb issues the policy itself, as part of a BOP, Benchmarq or Customarq package or GL Plus. [2]
Limits You Can Plan Around
Risklytics says customers typically ask for $1 million per incident and $2 million a year, which gives you a starting point before a quote. [9] Chubb publishes no general liability limits, so you'll only see them on the quote. [2]
What Should You Confirm in Chubb and Risklytics General Liability Insurance Quotes?
- Ask Risklytics which insurer will issue your policy before you bind. [8]
- Check whether a customer's claim that your product failed is excluded, since Risklytics routes that to tech E&O. [9]
- Ask Chubb whether your hardware or robotics operation fits one of its classes. [2]
- Ask whether Chubb's GL Plus pollution coverage applies to your products. [3]