Chubb Launches Lloyd's Lithium Battery Consortium
Chubb Limited (CB)
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Source: PR Newswire
Chubb-led initiative addresses lack of capacity in marine cargo market for risks associated with lithium battery transit and stockLONDON, Sept. 14, 2023 /PRNewswire/ -- Chubb today announced the launch of a new Lloyd's of London consortium it will lead that is designed to provide insurance coverage for risks associated with the transit and storage of lithium batteries.The consortium was created to address a lack of capacity in the marine cargo market for providing lithium battery transit and stock insurance. It provides a one-stop solution with limits up to $50 million for risk types associated with lithium batteries including transit, stock throughput, standalone stock and warehouse legal liability, and will include excess stock and part orders. It is led by Chubb Global Markets (CGM), the company's London Market wholesale and specialty business including its Lloyd's platform, and supported by 11 other Lloyd's syndicates. CGM will also draw on the capabilities of Chubb Climate+, the
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- Chubb (NYSE:CB) had its price target raised by analysts at Jefferies Financial Group Inc. from $302.00 to $326.00. They now have a "hold" rating on the stock.MarketBeat
- Chubb (NYSE:CB) was upgraded by analysts at Mizuho to a "hold" rating.MarketBeat
- Chubb (NYSE:CB) was given a new $310.00 price target on by analysts at Morgan Stanley.MarketBeat
- Chubb (NYSE:CB) was given a new $318.00 price target on by analysts at Mizuho.MarketBeat
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