Chubb Offers More Competitive Auto Pricing and a Multi-Policy Discount

WARREN, N.J., Nov. 6, 2007 -- The Chubb Group of Insurance Companies has launched a new automobile insurance rating system, which will enable it to offer more competitive pricing. The rating system, as well as a multi-policy discount for customers who purchase both Chubb homeowners and automobile policies, has been launched in Illinois, Minnesota and Ohio as part of a nationwide implementation.

Chubb's new auto rating system considers dozens of different underwriting factors, such as driving history, vehicle-to-driver ratio and client tenure. It has exponentially more price points than the prior rating plan.

"The new rating methodology is part of our strategy to grow our automobile insurance business. By more clearly differentiating one risk from another, our product will be attractive to more prospective customers," said Raymond Crisci, vice president, Chubb & Son, and worldwide automobile manager, Chubb Personal Insurance. "In the past, we often wrote the homeowners policy without being asked to quote on the auto policy. Many agents did not offer the business to Chubb unless the risk involved a clean driving record and a luxury vehicle. Now, we are in a far more competitive position to quote and write personal auto for our traditional target market clients."

To support its automobile business, Chubb also has expanded the number of auto repair shops available through Masterpiece(R) Auto Preference(R) Services. Although customers can select any repair shop they like, MAPS provides referrals, upon request, to quality repair shops, as well as priority auto glass replacement services and door-to-door rental car services. Chubb guarantees the workmanship of repairs done through the MAPS network for covered losses for as long as the client owns the vehicle. The network is available online to agents and brokers, so customers can begin the repair process at any time, even when losses occur after hours or on weekends.

Chubb's Masterpiece Auto Preference product includes some of the broadest insurance coverages and features:

  -- An agreed value option enables a customer to lock in at the beginning
     of the policy term the full amount that would be paid for a covered
     total loss;
  -- Chubb will pay for original equipment manufacturer's parts;
  -- Depreciation is not applied to replacing engines, tires, batteries and
     shock absorbers; and
  -- If a car is disabled due to a covered loss, Chubb will pay up to $5,500
     for renting a similar vehicle, without a per-day maximum or time limit.

Furthermore, Chubb offers limits up to $50 million for vehicle liability in many states, as well as $1 million for uninsured/underinsured motorist coverage.

The member insurers of the Chubb Group of Insurance Companies form a multi-billion dollar organization providing property and casualty insurance for personal and commercial customers worldwide through 8,500 independent agents and brokers. Chubb's global network includes branches and affiliates throughout North America, Europe, Latin America, Asia and Australia. Chubb is a worldwide leader in insuring fine homes, automobiles, yachts, antiques and other collectibles, and personal liability. Additional information on Chubb can be found at http://www.chubb.com/personal.