Chubb Suspension Stayed Pending Hearing

Law360, New York (November 10, 2010, 5:15 PM EST) -- The state of Washington's insurance commissioner on Wednesday stayed the suspension of six Chubb & Son subsidiaries' license to sell insurance following the insurer's demand for an administrative hearing on both the suspension and a proposed $534,000 fine for rate documentation violations.

Chubb's attorneys demanded the administrative hearing Tuesday, after Commissioner Mike Kreidler accused the company of repeatedly failing to properly document its rationale for charging higher or lower rates on certain policies.

Kreidler issued an order to suspend the certificates of six Chubb units for...
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