The following committees are at the executive level of Chubb Corporation: The Audit Committee: The Audit Committee is a standing committee of the Board of Directors, which provides oversight and guidance with respect to our company’s accounting principles and practices, internal controls, financial reporting, policies, and procedures. The members of the Audit Committee are appointed by the Board of Directors. The Compensation Committee: The Compensation Committee considers matters relating to the Company’s compensation policies and programs; review the selection and evaluation of the Company’s Executive Officers; considers a wide range of subjects related to remuneration issues; ensures that staffing levels are appropriate in order to manage risk effectively, if properly defined and measured; considers additional issues that may affect the eligibility for compensation of senior executives; recommends changes in our executive compensation policies that reflect market practices that meet Chubb’s objectives for retention, attraction, and productivity; oversees the implementation of our executive compensation policies, and selects independent third-party service providers to evaluate specific components of executive compensation plans.Chubb International Acquisition and Conference Room (IAC) Advisory Committee: The IAC Advisory Committee reviews matters relating to proposed acquisitions or investments as well as other potentially material matters as established in writing by our Board Executive Committee. As long-term investors in Chubb, our independent.

The Board of Directors of Chubb is composed of nine directors, all of whom are independent directors. The Board operates confidentially and does not reveal the names of Board members in public documents.

Chubb Corporation, together with its subsidiaries, Southco, Inc. (“Southco”), Southco International Associates, and Chubb North America Travel Holdings, Inc., is the worldwide leader in commercial property and casualty insurance. Chubb is engaged in both specialized property liability/casualty (“PC”) insurance, as well as specialty personal lines and workers’ compensation insurance (the “Distribution Business”). The Distribution Business segment is comprised of underwriting fees and commissions, net investment income, and other profit or loss

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