Chubb Amends Majority Voting Policy for Election of Directors
WARREN, New Jersey, February 8, 2006 – The Chubb Corporation [NYSE: CB] announced today that its Board of Directors has amended Chubb’s Corporate Governance Guidelines
regarding the election of directors.
Under the amended guidelines, any director who receives more “withheld” or “against” votes than “for” votes in an uncontested
election must submit his or her resignation to the board. The board would then have 90 days to decide whether to accept the
tendered resignation.
“The Board of Directors believes that adoption of the standard announced today enhances the Board's accountability to shareholders
and demonstrates Chubb's continuing commitment to strong corporate governance,” said Joel J. Cohen, Lead Director of Chubb.
Chubb’s Corporate Governance Guidelines are posted on the company’s Internet web site at www.chubb.com.
For Further Information Contact:
Investors:
Glenn A. Montgomery
908-903-2365
Media:
Mark E. Greenberg
908-903-2682
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