'No one believes that': Chubb faces backlash for defending $91.6M bond for Donald Trump in Jean Carroll defamation case

In a letter addressed to Chubb's customers on Wednesday, March 13, Evan Greenberg, Chairman and CEO, stated that the firm remains impartial
PUBLISHED MAR 14, 2024
Insurance firm Chubb said the $91.6M bond given to Donald Trump in E Jean Carroll's case was 'fully collateralized' (@Chubb/X, Getty Images, Stephanie Keith / Getty Images)
Insurance firm Chubb said the $91.6M bond given to Donald Trump in E Jean Carroll's case was 'fully collateralized' (@Chubb/X, Getty Images, Stephanie Keith / Getty Images)

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.

E. Jean Carroll arrives at Manhattan federal court in New York as her defamation suit against Donald Trump continues on January 26, 2024 in New York City. Lawyers for both parties are expected to make their final statements today before a jury decides on a financial penalty. Carroll successfully sued Trump for defaming her when he was president, he has denied sexually assaulting her in a New York department store dressing room in the mid 1990's. (Photo by Spencer Platt/Getty Images)
E Jean Carroll was awarded $83.3 million in a defamation lawsuit brought against Donald Trump (Spencer Platt/Getty Images)

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.

Evan Greenberg (about.chubb.com)
Chubb CEO Evan Greenberg defended the bond provided to Donald Trump (about.chubb.com)

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.

MESA, ARIZONA - OCTOBER 09:  Former U.S. President Donald Trump speaks at a campaign rally at Legacy
Donald Trump posted a $91.6 million bond to appeal E Jean Carroll's defamation verdict (Getty Images)

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.

MORE STORIES

Trump posted a scathing montage, accusing Democrats of shutting down the government to please their 'radical left' base
17 hours ago
John Kennedy is calling out Senate Minority Leader Chuck Schumer over the tough spot he’s in amid government shutdown
18 hours ago
Top officials in the Trump administration discussed invoking the Insurrection Act, which allows the president to deploy military forces on US soil
23 hours ago
Gavin Newsom rejected the bipartisan bill, calling it too costly and warning it could disrupt how California determines firefighter pay
1 day ago
The vote comes as California’s education agencies face a US Department of Justice lawsuit over alleged Title IX violations in girls’ sports
1 day ago
Donald Trump took aim at Sen Richard Blumenthal after his tense face-off with Attorney General Pam Bondi during a congressional hearing
1 day ago
Dick Durbin pressed Pam Bondi to justify sending troops to Illinois, accusing the Justice Department of hiding key information from the public
2 days ago
The comedian dubbed Chuck Schumer 'Hack-ie Mason', and then went on a rant against Democratic leadership in general
2 days ago
Trump promised America’s men and women in uniform that their pay is safe despite the government shutdown
3 days ago
The stipend is part of measures taken by the Trump administration to reduce illegal immigrants in US
5 days ago