THE CONSUMERIST MANIFESTO BLOG

Having The Last Laugh for Bad Products, Poor Services and Broken Promises

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September 8, 2010

Tags: CHUBB, insurance premiums, earthquale insurance

Is CHUBB Finally A Government Agency?

CHUBB just warned me that unless I add earthquake insurance to my CHUBB “Masterpiece" policy, “IT SHALL BE CONCLUSIVELY PRESUMED THAT YOU HAVE NOT ACCEPTED THIS OFFER.”

The “offer” would duplicate the CHUBB earthquake coverage I already have with CHUBB. CHUBB wants me to pay twice for the same coverage—just the sort of dumb thing the insurance industry warns us will happen if we let the feds into the insurance game. CHUBB was on the path to government agency over a century ago: My policy was issued by the Federal Insurance Company, founded in 1882 by Tom and Percy Chubb.

I like flubs by CHUB. It tried the redundant premium trick before: In 2008 CHUBB sent me contradictory bills that, if paid, would have increased the cost of my annual policy premium. Blaming an errant computer, CHUBB sent a $50 gift card for my time needed to alert them to their problem. This time I’ll go for $75.