Chubb CEO Warns Retroactive Measures Would ‘Bankrupt’ Industry
- Greenberg says loss potential from pandemic is ‘infinite’
- He’s urging Congress to grant some broad legal immunity
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Chubb Ltd. Chief Executive Officer Evan Greenberg has a stark warning for policy makers pushing insurers to pay out some uncovered business-interruption losses.
“The insurance industry is a fundamental part of the economic plumbing of this country,” Greenberg said in an interview Thursday. Forcing insurers to foot the bill for losses not covered by policies “would do great damage. It would bankrupt the industry.”