Catalyst Award
 

The Chubb Corporation was one of three recipients of the 2006 Catalyst Award for recruitment, development and advancement of women in business.  Catalyst honored Chubb for the company's Reach Up, Reach Out, Reach Down initiative, which empowers employees to take charge of their own careers in an inclusive environment, while reaching out to and coaching their colleagues. 

Catalyst noted that Chubb's initiative has enabled women's representation at the senior vice president and executive vice president levels to increase markedly.  From 2001 to 2005, the number of women serving as senior vice presidents rose from 16% to 23% and as executive vice presidents from zero to 17%.

The Catalyst Award-winning initiative highlighted Chubb's employee resource groups, including the Minority Development Council, Women's Development Council, Gay & Lesbian Employee Network, and Asian-American Business Network, which have access to senior leadership.  In both identifying opportunities for business development and acting as a leadership development training ground, these employee groups are able to affect company programs and policies.

In addition, Catalyst took note of Chubb's mechanisms to identify high-potential employees and an array of learning and development offerings as well as tying managers' compensation to business strategies for developing and promoting diverse employees and reporting their results to the CEO and Board of Directors.

Catalyst is a nonprofit organization building inclusive environments and expanding opportunities for women at work.  Since 1987, the Catalyst Award has been presented annually to companies with outstanding initiatives that result in women's career development and advancement.  The Catalyst Award provides the business community with replicable success models for companies and women.