After Full Steam determined to depart, the criticism alleges Chubb escalated its calls for. Chubb was already holding $29,403,287 in money from Full Steam to cowl future declare funds. The insurer then allegedly required that this money be transformed right into a letter of credit score, which might stay idle, and insisted Full Steam proceed to fund all future declare funds on a month-to-month foundation. The criticism specifies that declare funds made in July and August 2025 had been $984,191 and $976,307, respectively. Chubb additionally demanded an extra $22,029,727 in “collateral safety,” bringing the whole demand to $51,433,014, whereas Full Steam would nonetheless must cowl month-to-month declare invoices of round $900,000 to $1 million.
