Chubb CEO Defends Decision to Provide $91.6 Million Appeal Bond to Trump

On Wednesday, Chubb insurance company's CEO, Evan Greenberg, defended the company's decision to provide former President Donald Trump with a $91.6 million appeal bond in a civil case. This case involves allegations of defamation by writer E. Jean Carroll after she accused Trump of rape.

Neutral Stance

In a letter addressed to investors, customers, and brokers, Greenberg emphasized that the decision to issue the appeal bond to Trump was not influenced by the underlying merits of the appeal or any favoritism towards the involved parties. He stated, “When Chubb issues an appeal bond, it isn't making judgments about the claims, even when the claims involve alleged reprehensible conduct.”

Support for Rule of Law

Greenberg acknowledged the polarizing nature of the case and the defendant, expressing that it would have been easy for Chubb to refuse. However, he reiterated the company's commitment to supporting the rule of law, stating that they considered it the right thing to do and set aside personal feelings on the matter.

Protective Measures

The CEO highlighted that Chubb had protected itself by ensuring that Trump's bond, like any others issued by the company, is fully collateralized. He explained that if the bond is called, Chubb would take the collateral to avoid any adverse impact on the company.