Insurer and reinsurer Chubb has appointed Louis Hobson as Senior Vice President (SVP) of Flood Insurance for North America, based in Chicago and reporting to Derek Talbott, Division President of Chubb’s North America Property & Specialty Lines.
In this role, Hobson will work alongside the firm’s personal and commercial lines of business and will be tasked with leading efforts centred on both the development and implementation of strategies to broaden the delivery of the re/insurer’s robust suite of flood protection offerings throughout the U.S.
At the same time, Hobson will be responsible for underwriting, strategy, and product development, and will also share profit and loss performance responsibilities with leaders of the company’s personal and commercial lines.
Talbott commented: “Chubb recognizes that extreme weather events are increasing in both frequency and severity, which is why we have deployed a flood center of excellence focused on providing greater flood protection to our personal and commercial clients.
“Our flood practice is designed to meet the needs of those businesses and consumers who are currently underserved by existing public offerings available in the marketplace. The benefits of private flood insurance include more comprehensive coverage and higher limits than what is currently available.
“Chubb’s flood center of excellence, with Louis at the helm, underscores Chubb’s commitment to providing better access to comprehensive flood insurance, enabling us to more effectively address the needs of our customers. Louis’ background and extensive experience in this area serves as a strong complement to our industry-leading underwriting, servicing, and claims handling capabilities.”
Previously, Hobson has served in a number of senior leadership roles, including Chief Executive Officer (CEO) of National Flood Services, Executive Vice President of Aon National Flood Services, and Principal at the Boston Consulting Group.
“Flooding is the most common and costly natural disaster, and everyone is susceptible to flooding. Better education about the associated risks and the need to have the right protection in place is paramount.
“There is an enormous opportunity to increase the adoption of flood insurance and I will focus on working with our broker and agent partners to increase overall awareness about this type of exposure and the Chubb solutions available to help their clients ensure the right protections are in place,” said Hobson.