Chubb Receives Top Award for Historic Preservation.

Business Editors

NEW YORK--(BUSINESS WIRE)--Oct. 2, 2002

In a ceremony last night at the Waldorf-Astoria Hotel, the Preservation League of New York State honored the Chubb Group of Insurance Companies for its commitment to historic preservation.

Chubb received the Pillar

of New York Business Achievement Award, which is the League's highest recognition to an organization that has made outstanding contributions to historic preservation in New York State. Chubb is only the third organization to receive the award. Past recipients are Cablevision Systems Corporation and the Waldorf-Astoria Hotel.

"We are delighted to honor Chubb for their demonstrated commitment to the protection of historic properties and cultural resources across America," said Scott P. Heyl, president of the Preservation League of New York State. "Chubb is clearly the industry leader in recognizing the value of our heritage."

In accepting the award, Andrew McElwee, Jr., chief operating officer of Chubb Personal Insurance and executive vice president of Chubb & Son, praised the League for its contributions to historic preservation and noted Chubb's long history in helping protect and, in some cases, rebuild historic homes and landmark buildings.

Chubb offers an insurance program specifically designed for historic homes and insures many cultural institutions housed in historic structures as well as landmark buildings. In addition to being known for its renowned claim service, the company employs residential appraisers who record a home's unique architectural details and interior features and who help identify inadequacies in fire and burglar protection. Chubb's extended replacement cost coverage provides insurance when the cost of rebuilding a home exceeds the amount specified in the policy.

The Preservation League of New York State is dedicated to the protection of New York's diverse and rich heritage of historic buildings, districts and landscapes. It actively encourages historic preservation by public and private organizations, agencies and individuals in local communities throughout New York State and provides the united voice for historic preservation.

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 5,000 independent agents and brokers. Chubb's global network includes branches and affiliates throughout North America, Europe, Latin America, Asia and Australia.