{"id":2681,"date":"2025-10-17T23:21:55","date_gmt":"2025-10-17T23:21:55","guid":{"rendered":"https:\/\/www.insuracarelife.com\/blog\/full-steam-staffing-accuses-chubb-of-ramping-up-collateral-demands\/"},"modified":"2025-10-18T18:11:23","modified_gmt":"2025-10-18T18:11:23","slug":"full-steam-staffing-accuses-chubb-of-ramping-up-collateral-demands","status":"publish","type":"post","link":"https:\/\/www.insuracarelife.com\/blog\/full-steam-staffing-accuses-chubb-of-ramping-up-collateral-demands\/","title":{"rendered":"Full Steam Staffing accuses Chubb of ramping up collateral demands"},"content":{"rendered":"<div>\n<p dir=\"ltr\">After Full Steam decided to leave, the complaint alleges Chubb escalated its demands. Chubb was already holding $29,403,287 in cash from Full Steam to cover future claim payments. The insurer then allegedly required that this cash be converted into a letter of credit, which would remain idle, and insisted Full Steam continue to fund all future claim payments on a monthly basis. The complaint specifies that claim payments made in July and August 2025 were $984,191 and $976,307, respectively. Chubb also demanded an additional $22,029,727 in \u201ccollateral security,\u201d bringing the total demand to $51,433,014, while Full Steam would still need to cover monthly claim invoices of around $900,000 to $1 million.<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>After Full Steam decided to leave, the complaint alleges Chubb escalated its demands. Chubb was already holding $29,403,287 in cash from Full Steam to cover future claim payments. The insurer then allegedly required that this cash be converted into a letter of credit, which would remain idle, and insisted Full Steam continue to fund all [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":2682,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[863,1482,1251,1248,567,1642,1392,1641],"class_list":["post-2681","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blog","tag-accuses","tag-chubb","tag-collateral","tag-demands","tag-full","tag-ramping","tag-staffing","tag-steam"],"_links":{"self":[{"href":"https:\/\/www.insuracarelife.com\/blog\/wp-json\/wp\/v2\/posts\/2681","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.insuracarelife.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.insuracarelife.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.insuracarelife.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.insuracarelife.com\/blog\/wp-json\/wp\/v2\/comments?post=2681"}],"version-history":[{"count":1,"href":"https:\/\/www.insuracarelife.com\/blog\/wp-json\/wp\/v2\/posts\/2681\/revisions"}],"predecessor-version":[{"id":2692,"href":"https:\/\/www.insuracarelife.com\/blog\/wp-json\/wp\/v2\/posts\/2681\/revisions\/2692"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.insuracarelife.com\/blog\/wp-json\/wp\/v2\/media\/2682"}],"wp:attachment":[{"href":"https:\/\/www.insuracarelife.com\/blog\/wp-json\/wp\/v2\/media?parent=2681"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.insuracarelife.com\/blog\/wp-json\/wp\/v2\/categories?post=2681"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.insuracarelife.com\/blog\/wp-json\/wp\/v2\/tags?post=2681"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}