Tokio Marine HCC formed a new subsidiary in Mexico designed to help address customers’ surety needs in Mexico. Chubb launched specialized coverage designed to address unique exposures that impact professional service firms in the United States.

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Tokio Marine HCC has formed a Mexican subsidiary, named Tokio Marine HCC Mexico Compania Afianzadora, S.A. de C.V., or TMHCC Mexico.

The newly-formed entity provides surety bonds to Mexican-domiciled organizations and enables Tokio Marine HCC – Surety Group to produce business for customers in the United States, Japan, Europe and other countries worldwide with surety needs in Mexico.

Francisco “Pako” Barajas Aguilera has been named to lead TMHCC, bringing with him over 30 years of surety experience in the Mexican surety market. Previously, Barajas managed the surety operations of Chubb de Mexico, Compania Afianzadora, S.A. de C.V. Barajas reports to Adam S. Pessin, Tokio Marine HCC – Surety Group’s Chief Executive Officer.

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Chubb has launched specialized coverage designed to address unique exposures that impact professional service firms in the United States.

Named Pro ERM, the offering combines Miscellaneous Professional Liability, Media Liability, Cyber Liability, and first-party Cyber coverages with extensive loss mitigation and incident response services, all in a single policy. Pro ERM is an expansion of Chubb’s comprehensive Cyber ERM offering, giving organizations of all sizes an enterprise risk management solution to address their wide-ranging risks.

Key benefits include 100 percent coverage of defense costs for covered claims worldwide. The cover also uses broadened definitions, expanded reporting provisions and coverage extensions – all selected to address the evolving exposures of today’s miscellaneous professional service firms

Chubb is marketing its Pro ERM policy to miscellaneous professional service firms of all sizes, including consultants, business process administrators, public relations firms, staffing firms and more.

Sources: Tokio Marine HCC, Chubb