Chubb Launches Enhanced TankSafe System, Enabling Brokers to Execute New Business Quotes, Renewal Transactions, and Mid-Term Policy Changes for Commercial Storage Tank Insurance

PR Newswire

WHITEHOUSE STATION, N.J., Oct. 22, 2019 /PRNewswire/ -- Chubb has introduced an enhanced technology platform for the management of commercial underground and aboveground storage tank insurance. This portal, Chubb TankSafe®, is a fully-automated internet-based system designed to help make an otherwise complicated process more user-friendly and efficient for retail and wholesale brokers – from submission through policy and financial responsibility certificate issuance. TankSafe® can be used to combine underground and aboveground storage tank coverage in a single policy that is available on an admitted basis to brokers in all 50 states.

Chubb first introduced the ability to underwrite storage tanks online in 2003 and has continued to invest in the technological advancement of the system since then. The newly redesigned TankSafe® system is now available on Chubb's proprietary Worldview® Commercial Producer Portal. Integrating these technologies provides brokers with a centralized platform for new business quotes, renewals, and mid-term changes. Chubb is currently the only carrier to offer admitted storage tank coverage via an online portal.

"For more than 15 years, Chubb has helped commercial companies of all sizes identify and fill potential coverage gaps and mitigate the risks associated with tank ownership and management," said Craig Richardson, Executive Vice President, Chubb Environmental. "This latest enhancement provides both retail and wholesale brokers with greater control over their storage tank programs, ultimately providing tank owners and operators with the integrated financial responsibility coverage and technology solutions they need."

Notable features of the enhanced TankSafe® system include:

On-the-go access via a smartphone and tablet
Geolocation tank mapping functionality which readily identifies each scheduled location
The ability to quote up to three deductible options at one time, which helps expedite a customer's ability to review and select coverages based on their specific needs and budgets
The ability to upload storage tank information to the portal via spreadsheet allowing users to review all documents in one centralized location.

"Chubb is committed to this business and the continual evolution of integrated technology solutions to help our brokers take greater control over – and more easily manage – their insurance programs," Richardson continued. "TankSafe® users can conveniently rate, quote, and issue tank liability policies and certificates for financial responsibility through the portal."

TankSafe® is offered through Chubb's Environmental business unit in addition to Premises Pollution Liability and Contractor Pollution Liability coverages. These insurance products help U.S. businesses mitigate and safeguard against pollution related risks.

For more information on Chubb TankSafe®, click here.

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.

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