Chubb CEO Evan Greenberg, recognizing the criticism swirling around his company’s involvement in recently providing Donald Trump with a $91.6 million appeal bond, penned a letter to explain.
丘博首席执行官埃文·格林伯格意识到围绕公司最近为唐纳德·特朗普提供 9160 万美元上诉保证金的批评，写了一封信进行解释。
“When Chubb issues an appeal bond, it isn’t making judgements about the claims, even when the claims involve reprehensible conduct,” Greenberg said in the letter to brokers, clients, and investors.
“当 Chubb 发出上诉保证金时，它并没有对索赔做出判断，即使索赔涉及应受谴责的行为，”格林伯格在给经纪人、客户和投资者的信中说。
“I realize how polarizing and emotional this case and the defendant are and how easy it would be for Chubb to just say no,” Greenberg added. “However, we support the rule of law and our role in it. We considered this the right thing to do and we frankly left our personal feelings aside.”
“我意识到这个案件和被告是多么具有两极分化和情感化，以及 Chubb 拒绝是多么容易，”格林伯格补充道。“然而，我们支持法治及我们在其中的角色。我们认为这是正确的做法，并坦率地将个人感情放在一边。”
The surety bond contract was issued by Chubb’s Federal Insurance Co. and signed by Trump early last week. It allows the former president to appeal the $83.3 million verdict against him in the E. Jean Carroll defamation case. In January, a federal jury in Manhattan awarded the sum of a $65 million punitive award and $18.3 million in compensatory damages to Carroll after the trial.
保证金合同由Chubb’s Federal Insurance Co签发，并于上周早些时候由特朗普签署。它允许前总统对 E. Jean Carroll 诽谤案中对他作出的 8330 万美元判决提出上诉。今年 1 月，曼哈顿的一个联邦陪审团在审判后判给 Carroll 6500 万美元的惩罚性赔偿和 1830 万美元的补偿性赔偿。
Federal will pay if Trump loses the appeal or fails to pay. Greenberg said Carroll—as the plaintiff typically does—approved the terms of the bond before the court accepted it, and she now gets the “peace of mind that payment is certain if the judgement is upheld.”
如果特朗普上诉失败或未能支付，联邦将支付。格林伯格表示，卡罗尔作为原告通常会在法院接受之前批准保释金的条款，现在她可以“放心，如果判决维持，付款是有保障的。”
The bond, Greenberg added, “serves the important purpose of facilitating the legal process, providing the certainty that court and plaintiffs require after an adverse trial court decision.”
格林伯格补充说，该债券“起到了促进法律程序的重要作用，提供了法院和原告在不利的初审法院判决后所需的确定性。”
Providing a bond “has nothing to do with the underlying merits or with favoring any of the parties in the case,” Greenberg said. “As a surety, we don’t take sides, it would be wrong for us to do so, and we are in no way supporting the defendant.”
提供担保“与案件的实质或偏袒任何一方无关，”格林伯格说。“作为担保人，我们不偏袒任何一方，这样做是错误的，我们绝不支持被告。”
Greenberg said the bond is fully collateralized—corroborating comments from Nick Newton, senior vice president at Assured Partners and immediate past president of the National Association of Surety Bond Producers, in an earlier report. Newton added that premium is typically 1-2%.
格林伯格表示，该债券是完全有担保的——证实了Assured Partners 高级副总裁兼全国担保债券生产商协会前任主席 Nick Newton在早期报告中的评论。Newton 补充说，保费通常为 1-2%。
The chief executive said that if the bond is called, “Chubb takes the collateral, which is intended to make us whole.”
首席执行官表示，如果债券被赎回，“Chubb 将接管抵押品，这旨在使我们得到全额补偿。”
“We hardly support or subsidize defendants or take ‘one for the team,'” he said, addressing criticism that in some way the bond was a favor for Greenberg getting appointed by Trump in 2018 to the Advisory Committee for Trade Policy and Negotiations. Greenberg continued to hold the position until about a year ago. After rioters stormed the Capitol in January 2020, Greenberg said citizens had “a responsibility to speak out against and condemn in the strongest terms the violence and display of demagoguery we witnessed.”
“我们几乎不支持或补贴被告，也不会‘为团队牺牲’，”他说，这回应了有关债券在某种程度上是对格林伯格的一个人情的批评，因为他在 2018 年被特朗普任命为贸易政策和谈判咨询委员会成员。格林伯格继续担任该职位直到大约一年前。2020 年 1 月，暴徒冲击国会大厦后，格林伯格表示，公民有“责任以最强烈的措辞发声反对并谴责我们目睹的暴力和煽动行为。”
JD Weisbrot, president and chief underwriting officer at JW Surety Bonds, told Insurance Journal that Trump, other than providing 100% collateral in liquid assets, may have provided a letter of credit from an approved bank.
JW Surety Bonds 的总裁兼首席承保官 JD Weisbrot 告诉《保险杂志》，除了提供 100%流动资产的抵押品外，特朗普可能还提供了一家认可银行的信用证。
“The insurance company would not be willing to take a $90 million risk simply because he is an ex-president,” Weisbrot said. “They most likely received 100% collateral in the form of cash or an irrevocable letter of credit.”
“保险公司不会因为他是前总统而愿意承担 9000 万美元的风险，”韦斯布罗特说。“他们很可能以现金或不可撤销的信用证的形式获得了 100%的担保。”
Trump may have also had to provide personal guarantees to Chubb’s Federal Insurance.
特朗普可能还需要向丘博的联邦保险提供个人担保。
“If an individual person and not a corporation has been sued and lost an appeal, they would need to post collateral, and they would need to provide personal indemnification holding the surety company who issued the bond harmless from all losses and expenses whatsoever,” Weisbrot said. “We can presume that Donald Trump also needed to provide a similar personal guarantee as well as the collateral to secure this bond security.”
“如果是个人而不是公司被起诉并在上诉中败诉，他们需要提供抵押品，并且需要提供个人赔偿，确保发行债券的担保公司免受一切损失和费用的影响，”Weisbrot 说。“我们可以推测，唐纳德·特朗普也需要提供类似的个人担保以及抵押品来确保这项债券担保。”