By raising awareness and sharing our claims and risk-consulting expertise, we can help you stay safer in 2023 and beyond, and better protect the people and things you love most.
In this email we’re recapping the most frequent and largest types of claims we saw in personal lines in 20221, including emerging trends and case studies. You can also click on each loss type and access content we’ve developed to help educate you on these risks and avoid finding yourself on one of these lists next year. |
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2022 Most Frequent Claim Categories: |
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CASE STUDY
Everything and the kitchen sink
When a water supply line under the kitchen sink failed and burst, water flowed throughout the single-story home, resulting in significant water damage to much of the floor’s interior finishes. The house was not habitable during restoration, and the client lived in a rental for nearly nine months while the home was repaired.
Total estimated claim cost: $1.5M.
Learn more about water damage and ways to mitigate your risk of a big loss. |
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2022 Claim Categories with Largest Amount Paid:
Top five in terms of severity/claims payout: |
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CASE STUDY
Home fire quickly results in $2M claim
A fire started in the upper floor bedroom of our client’s brownstone. Because the family was home at the time and noticed the fire, they were able to call the fire department and get the fire under control quickly. However, there was still extensive damage throughout all levels of the home and to its contents.
Total estimated claim cost: $2M.
Learn more about how you can help prevent fires inside and outside of your home. |
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2022 Emerging Claim Trends |
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CASE STUDY
ATV accident with two minors equals major damages
Two teenagers were driving in an all-terrain vehicle (ATV) when they lost control and the vehicle flipped, crushing the passenger’s hand. Over the course of several years, the passenger had many surgeries, and ultimately underwent an amputation of his hand. The teen driver was covered as a dependent under our client’s excess liability policy, and Chubb paid over $3 million for medical expenses, pain and suffering, and long-term care for the passenger under the policy.
Total estimated claim cost: $3.3M.
View more case studies. |
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Visit www.chubb.com/resources for our complete library of loss prevention guides, tips, and other helpful resources. |
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1 Based on Chubb’s 2022 calendar year.
2 Excludes hurricanes, tornadoes, wildfires and other CAT events. A CAT or catastrophic event is typically defined by the insurance industry and applies to major natural events such as a hurricanes, tornadoes, floods, earthquakes or wildfires. These types of claim events are grouped separately.
3 These trends likely reflect a return to “normal” auto usage levels (pre-pandemic).
© 2023 The information contained in this document is not intended as a substitute for legal, technical, or other professional advice. Chubb is the marketing name used to refer to subsidiaries of Chubb Limited providing insurance and related services. For a list of these subsidiaries, please visit our website at www.chubb.com. Insurance provided by ACE American Insurance Company and its U.S.- based Chubb underwriting company affiliates. All products may not be available in all states. This communication contains product summaries only. Coverage is subject tothe language of the policies as actually issued. Surplus lines insurance sold only through licensed surplus lines producers. Chubb, 202 Hall's Mill Road, Whitehouse Station, NJ 08889-1600. |
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