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Chubb Calls for Congress to Approve Free Trade Agreement with Korea

WARREN, NJ, December 6, 2010 - The Chubb Corporation urges Congress to expeditiously approve the free trade agreement that U.S. and Korean negotiators reached late last week.

“The agreement represents a historic opportunity to deepen trade and investment links with one of America’s most important allies in the Asia-Pacific region,” said Harold L. Morrison, Jr., executive vice president and chief global field officer for The Chubb Corporation. “It is critical for U.S. economic interests, as well as for our national security, that Congress quickly approves this carefully and prudently negotiated agreement.”

Chubb has had a presence in Korea for more than 18 years. “Congressional approval of the agreement will strengthen Chubb’s efforts in this key market, where we offer a range of cutting-edge property and casualty insurance coverages,” added Morrison.

Founded in 1882, the Chubb Group of Insurance Companies provides 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.