Insurance to Help Ease the Emotional and Financial Impact Of Crimes Is Now Available in New Jersey

WARREN, NJ, October 8, 2002 – Insurance is now available in New Jersey to help protect families from financial loss if a loved one is the victim of one of four crimes. The Chubb Group of Insurance Companies is offering its Masterpiece® Family Protection^SM to homeowners policyholders in the Garden State. Family Protection coverage helps defray a broad range of expenses if the policyholder or a covered relative is the victim of a covered home invasion, child abduction, car jacking or stalking threat that occurs almost anywhere in the world.

The insurance was introduced in four states — Colorado, Connecticut, Illinois and Massachusetts — in the summer of 2001. "Sales have been steady in the four states where the product has already been offered," said Peter Spicer, assistant vice president of Chubb & Son and new product manager for Chubb Personal Insurance. "New Jersey represents the beginning of an aggressive roll-out strategy that will bring Masterpiece Family Protection to more states around the country."

The insurance reimburses the policyholder up to specified limits for various expenses, including fees for medical and psychiatric services, reimbursement for lost wages, fees for professional security consultants and security guards, and the cost of recuperation, improving household security and temporarily relocating one's residence. The policy also provides a reward for information leading to the arrest and conviction of the responsible party. Covered relatives include one's spouse, children, grandchildren, parents, grandparents, siblings and their children. Depending on the type and severity of covered loss, the policy provides up to $300,000 in coverage.

"The policy provides peace of mind to New Jersey policyholders at a time when some violent crimes, such as car jackings, are on the rise in the state," Spicer said. "Family Protection can help policyholders concentrate on getting their lives back together if they or a family member are crime victims, instead of worrying about financial details."

While the overall crime rate in New Jersey has declined in recent years, violent crime (murder, rape, robbery and aggravated assault) comprised 12 percent of the state’s total crime index in 2000, according to the New Jersey State Police.

The number of reported car jackings rose to 420 incidents in 2000, an 11 percent increase over the 1999 figure. Also, there were 34,150 motor vehicle thefts reported in New Jersey in 2000 and 27,424 forced-entry burglaries.

"The crime statistics in New Jersey show just how important this kind of protection is, and the cost — just $90 a year — is quite affordable," Spicer said.

National crime statistics are just as startling. According to the U.S. Department of Justice, nearly 1.3 million cases of forcible or unlawful entry of residences, 1.4 million stalkings, 50,000 car jackings and between 3,200 and 4,600 non-family-related child abductions occur each year.

A nationwide survey of more than 300 people conducted by Impulse Research of Los Angeles concludes that families feel that home invasion, child abduction, car jacking and stalking represent considerable threats. Nearly two-thirds of Americans (62 percent) worry that their child may be abducted, 58 percent are concerned about car jacking and 46 percent fear that they may be stalked. In addition to the emotional issues, 78 percent of those surveyed said the expenses associated with being a victim of one of these crimes could seriously affect their finances.

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