Chubb faces backlash for defending $91.6M bond for Donald Trump in Jean Carroll defamation case

NEW YORK CITY, NEW YORK: According to ABC News, Chubb, the insurance giant that backed former President Donald Trump's $91.6 million bond in E Jean Carroll's defamation case, stated in a letter on Wednesday that the company's involvement "has nothing to do with the underlying merits or with favoring any of the parties in the case."

In a letter addressed to Chubb's customers on Wednesday, March 13, Evan Greenberg, Chairman and CEO, stated that the firm remains impartial and clarified that the provided bond was "fully collateralized."

On March 8, Trump secured the $91.6 million bond provided by Federal Insurance Company, a subsidiary of Chubb, to appeal the $83.3 million defamation penalty imposed in the case brought by Carroll. Subsequently, on March 12, a federal judge approved the bond.

Chubb CEO clarifies the bond

"As the surety, we don't take sides, it would be wrong for us to do so and we are in no way supporting the defendant. We are supporting and are part of the justice system plumbing included in this case," CEO Greenberg wrote in the letter sent to the customers, agents, and brokers who inquired about the massive bond.

"I fully realize how polarizing and emotional this case and the defendant are and how easy it would be for Chubb to just say no. 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," the letter continued.

Chubb also issued two separate statements, with one clarifying Greenberg's appointment to a trade advisory panel by Trump while he was in office.

The statement said that the former president in 2018 appointed Greenberg along with James P Hoffa (International Brotherhood of Teamsters), Harold McGraw III, C Fred Bergsten (Peterson Institute of International Economics), and Timothy P Smucker of Ohio to the advisory committee where he served till March 2023 under both Trump and Biden administrations.

A Manhattan federal jury in late January ordered the ex-president to pay Carroll $83.3 million for defaming her in 2019 by denying her sexual assault claims. The longtime advice columnist had won $5 million in another defamation lawsuit against Trump in 2023.

Since Carroll first publicly made the sexual assault allegations in a 2019 magazine article, Trump has consistently denied them.

Moreover, the GOP presidential nominee refused to stop insulting her amid the ongoing presidential campaign. For instance, Trump, in a recent interview with CNBC, went after Carroll, labeling her accusations "false" and calling her "Miss Bergdorf Goodman."

Internet slams Chubb

Netizens expressed outrage at Chubb's defense of the bond provided to Trump, with some even pledging to cease doing business with the insurance firm.

One user said, "Yeah, no one believes that."

"Hopefully their customers take sides! I would never do business with them! Ever!" said another person.

A response read, "I hope they lose the whole thing." One more user simply stated, "They took a side."

"Spin it however you want Chubbsy ubsy… 'fully collateralized' in the context of a felon who committed fraud by inflating his wealth, and who may end up forfeiting property cause he’s broke, just seems dumb Do you think your investors are dumb?" read another response. [sic]

Someone else wrote, "Taking sides is precisely what those lying fools are doing for the criminal fake billionaire."

This article contains remarks made on the Internet by individual people and organizations. MEAWW cannot confirm them independently and does not support claims or opinions being made online.