Two-thirds of the top 200 art collectors in the world choose Chubb as their insurer. ArtNews survey 2008

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2 Who are Chubb? Since 1882 Chubb has been renowned in America for exceptional insurance cover and service for individuals and businesses. We are one of the world s most financially stable insurers with over $50 billion in assets and 120 offices worldwide, including the UK. Our prudent financial management and disciplined underwriting earn us consistently high ratings for financial strength from the leading credit-rating agencies. We are a world-leading insurer of fine homes and cars, as well as privately owned art, antiques and jewellery. Masterpiece was launched in the UK in There are over one million Masterpiece policyholders around the world. Two-thirds of the top 200 art collectors in the world choose Chubb as their insurer. ArtNews survey 2008

3 CHUBB MASTERPIECE IS DESIGNED TO CREATE CERTAINTY In the prestigious UK Insurance Times awards, brokers have consistently voted Chubb Best Personal Lines Insurer, Best Motor Insurer and Best Claims Service. Chubb Masterpiece is insurance as it should be. Whether you own a Georgian rectory or a dockside penthouse, an Aston or an Audi, pearls or Purdeys you can be certain that you re covered adequately and that your claims will be paid promptly, fairly and in full. Our trademark 3 step process is the cornerstone of our legendary claim service. Just ask your broker. Step 1, our appraisal, establishes the value of your possessions upfront, ensuring that we all agree exactly what is being insured. So at Step 2 we can provide generous all-risks cover, without having to add small print to protect ourselves against unknowns. As a result at Step 3, when you make a claim, we have all the information we need to settle it in a fast, fair and fuss-free way. Masterpiece may cost a little more although less than you might think but, we hope you ll agree, the benefits are exceptional.

4 Our three-step process makes us different STEP 1 Our unique appraisal service Standard insurers can only offer low prices by selling a one size fits all policy peppered with small print that limits the claims they will pay and the amounts they will pay out. So if you own a higher-value home or car you re likely to discover usually when you re making a claim and it s too late that your policy doesn t give you sufficient cover. Our trademark three-step process is designed to eliminate the pitfalls of standard insurance. Each step builds towards the certainty of our legendary claim service. We are the only insurer to appraise and agree upfront the value of every home and car we insure in the UK... This means accurate sums insured, creating a transparency that speeds claims payments. We agree with you the value of your home and possessions with our free home appraisal and Agreed Value approach for valuables and cars. As a result, you know from the outset the exact sum you will receive after a total loss. so there s no infuriating haggling after a claim. Why is an appraisal necessary? Most other insurers leave you to calculate the sums needed to replace your home and possessions. Under-estimate and they may penalise you later reducing your claim by the proportion of under-insurance. It s called averaging. What happens at an appraisal? Our appraisers are experts in building costs, with experience in fine art. They will: Estimate accurate sums for your house and contents so we both agree what s insured. Record in detail the construction of your home so it can be rebuilt, exactly as it was. Suggest measures to help prevent loss or damage so you are better protected. What is Agreed Value? We are one of the few insurers to offer Agreed Value. At the start of the policy year we agree with you the exact amount we will pay following the loss or damage beyond repair of specified valuables and your cars. We call this Agreed Value. From Day 1 to Day 365 this is the exact sum you will receive with no deductions. What if the agreed sum insured isn t enough? We offer extended replacement cost cover for all but a few unusual homes and most cars under 15 years old. This means we guarantee to rebuild your house as it was, whatever the cost. And, we will pay up to 150% of the Agreed Value to secure a like-for-like replacement for your car.

5 STEP 2 We provide all risks cover without limiting conditions STEP 3 We pay claims fast We believe you should be free to enjoy your possessions... Our appraisal at Step 1 means we know exactly what we are insuring. So we don t have to protect ourselves against unknowns by limiting your cover and adding restrictive conditions to trip you up. That s why Masterpiece has: generous worldwide all risks cover (including accidental loss or damage) no limiting conditions (e.g. insisting your jewellery is kept under lock and key) no under-insurance penalties. Your broker will confirm that Masterpiece is one of the most generous home and motor policies you will find. so you can enjoy life certain that you re covered adequately. We believe in exceptional service... Steps 1 & 2 help settle things in advance. So the moment you make a claim our claim specialists are ready to deal with it in a fast, fair and fuss-free way. You can choose a full cash settlement without deduction or nominate your own supplier for replacement or repair. which is why brokers consistently rate our claim service as the best in the industry. VOTED BEST IN THE INDUSTRY FOR CLAIM HANDLING 2008, 2007, 2006 Insurance Times Broker Survey What does all-risks cover mean? Most home or motor insurance is perils based. You are covered only for the specific causes listed in your policy usually fire, theft, storm or flood. Everything else is excluded. For example, if accidental damage is not explicitly listed then it s not covered. Masterpiece is different. Apart from a few reasonable exclusions, which we clearly state, we cover all your possessions for every eventuality worldwide including accidental loss or damage. We call it all risks cover. We insure your cars on exactly the same principle. Does worldwide really mean worldwide? Yes. Most insurance covers the majority of your possessions inside your home only. We cover all of them anywhere in the world even when you re travelling. Why is Masterpiece cover generous? We only insure higher value homes and cars. Our goal is to create certainty. So we take extreme care to ensure our cover and services meet our clients demanding needs. What about the small print? We don t need to protect ourselves to avoid claims. Our appraisal means we know what we are insuring upfront. Most other insurers delay this assessment until you make a claim. So they have a range of restrictive conditions and penalties designed to protect them. Masterpiece has no limiting conditions such as alarm or jewellery clauses. We trust your good sense. We won t penalise you for the occasional error like forgetting to set the alarm. Masterpiece has no under-insurance clauses. We have already agreed what is insured. What happens when I report a claim? We try to make things as easy as possible. Our claim specialists are available round the clock. There are no claim forms to complete. If possible, we do everything over the phone, including approving and obtaining quotes. What choices do I have? We don t dictate to you. You can choose either a full cash settlement (with no deduction except any agreed excess) or replacement/ repair via a supplier you nominate. But if you prefer, we can introduce you to specialist companies with whom we work. How fast do you pay claims? For non-complex claims we aim to take no more than 48 hours from your claim report before payment leaves our bank for yours. What about more complex claims? For complex claims, such as fire or flood, we pride ourselves on acting quickly and helpfully. We co-ordinate expert support services without delay, our field claim specialists can pay up to 25,000 on the spot, and we work with you to give you back your home the way you want it. Are motor claims the same? Motor claims are managed by the same team, to the same exacting standards. No penalties for no blame claims. Choose your own repairer. Enjoy a comparable courtesy car.

6 How Chubb pays claims Since 1882, Chubb Insurance has maintained a Tiffany standard, showing up at the scene of the unpleasantness with an open chequebook, empathy and no impertinent questions asked. Hunt the Leaking Pipe A leaking pipe in the all-marble bathroom of a London client caused extensive damage. The emergency plumber had to remove nearly half the floor tiles and the bath-surround to pinpoint the source of the leak. The Masterpiece policy provides unlimited cover for tracing a leak, accessing it for repair and restoring any damage caused by the search. Unfortunately, the tiles sourced in Italy could not be matched. So, at a cost of 12,000, Chubb paid for the entire bathroom to be retiled in a similar marble. A standard policy would probably have covered the repair only 490 in total. The Diver and the Rolex A Masterpiece policyholder lost a vintage Rolex whilst sailing in a water park. The watch was of huge sentimental value as it belonged to his father. Understanding this, we offered to send out a diver to see if it could be located. Luckily, the visibility was good and the watch found. If it had not been recovered, we would have paid the Agreed Value of 35,000 with no deduction letting the watch be replaced or not, as the policyholder wished. A standard insurer would have simply offered market value, around 28,000, less any excess. The Missing Earring After a trip to Paris, a client found that one of her favourite diamond earrings was missing. She had no idea how it had been lost, and we didn t quiz her. We simply asked for the remaining earring and paid the 10,500 Agreed Value for the pair, with no deduction. A standard insurer would have paid only for the one lost earring 5,250 or market value, whichever was lower, less a deduction for excess. A Short-Lived Dream A Masterpiece motor policyholder had waited well over a year for delivery of his dream car an 85,000 Aston Martin Vantage. A day later it was a total write-off! Chubb immediately arranged an Aston Martin as a courtesy car. To settle the claim the client requested a replacement Vantage rather than the Agreed Value of 85,000 cash. So we worked with a prestige motor supplier to find a car to precisely the same spec. It was anticipated this might take up to a year. But, happily, our well-placed contact found an exact replacement within 14 days! With a standard insurer he would have been forced to settle for the Glass s Guide trade price nearly 15,000 less than he paid. Forbes FYI Magazine Millennium Review 2001

7 Chubb Masterpiece Insurance for: Home Motor Contents Fine Art Antiques Jewellery Wine Identity Fraud Family Protection Liability Legal Expenses Travel With one renewal date and one premium. Recent Recognition Chubb is the gold standard for property insurance swiftly paying claims that other companies might baulk at. Worth Magazine Editor s Choice 2002 Since 1882, Chubb Insurance has maintained a Tiffany standard, showing up at the scene of the unpleasantness with an open chequebook, empathy and no impertinent questions asked. Forbes FYI Magazine Millennium Review 2001 Two-thirds of the top 200 art collectors in the world choose Chubb as their insurer. ArtNews survey 2008 PERSONAL LINES INSURER OF THE YEAR Insurance Times Awards UK Winner: 2008, 2006, 2005, 2004, 2003, 2000 Runner up: 2007, 2002, 2001 MOTOR INSURER OF THE YEAR Insurance Times Awards UK Winner: 2007 Runner up: 2006 BEST IN THE INDUSTRY FOR CLAIM HANDLING Insurance Times Broker Survey Voted best in the UK: 2008, 2007, 2006 BEST CLAIMS SERVICE Insurance Times Awards ( ) Winner 4 times, Runner-up once Award discontinued in 2005 Awards voted by 2,500 randomly selected UK brokers Survey conducted with 468 brokers For more information please contact your broker, or call Chubb on Chubb Insurance Company of Europe SE Chubb Insurance Company of Europe SE is a European company registered in England and Wales under company number SE13. The registered office address is 106 Fenchurch Street, London EC3M 5NB. Chubb is authorised and regulated by the Financial Services Authority. Cover is underwritten by Chubb Insurance Company of Europe SE. This information is descriptive only. The precise cover provided is subject to the terms and conditions of the policy as issued. For promotional purposes, Chubb means member insurers of the Chubb Group of Insurance Companies. For the purposes of training and monitoring our service, some telephone calls may be recorded. Printed on environmentally friendly paper from a sustainable source. Chubb Insurance Company of Europe 2009 Masterpiece Overview Brochure/ June 09

8 Policy Cover Highlights without any jargon

9 Policy Highlights Here are just a few of the benefits provided as standard by Chubb Masterpiece full details are in the policy Buildings For one home or multiple homes around the world a listed Georgian townhouse, a cutting-edge Huf Haus, a country retreat plasterwork, panelling, fire surrounds tennis courts, swimming pools, gates we provide cover not readily available from other insurers Extended Replacement Cost cover if your home is insured to its agreed appraised value we will pay to rebuild it exactly as it was even if this costs more than the sum insured (except for a few unusual homes) Alternative accommodation after an incident unlimited cover, including loss of rent. Cover for pets and horses. Plus 5,000 for emergency clothing Outbuildings detached garages, outbuildings, etc covered up to 20% of the buildings sum insured Landscaping hard landscaping covered to 10% of the buildings sum insured. Trees and shrubs covered up to 2,500 each Second homes including those countries outside the UK where Chubb offers coverage covered on the same terms as your main home Accidental damage or loss automatically covered, including outbuildings Unlimited trace and access cover we will pay to trace oil, water or gas leaks within your home in water, heating or cooking systems and reinstate any damage caused Unlimited cover for replacement locks and keys Renewable power cover up to 10,000 to repair/ replace geothermal, wind or solar power systems following a covered breakdown or loss Fly-tipping cover up to 15,000 to remove litter or debris left by trespassers/ fly-tippers Worldwide Property Owners Liability with generous limits Contents Your possessions insured wherever you or they are in the world with no restrictive conditions, generous limits and many benefits simply not provided by other insurers New-for-old on all contents, including clothes, with no deductions for wear and tear Contents automatically insured worldwide for all risks even when you travel with no limiting conditions Accidental damage or loss automatically covered Newly acquired items immediately covered for 60 days for up to 25% of the contents sum insured Money covered up to 5,000 Home business furnishings, supplies and equipment covered up to 20,000 with an additional 5,000 for data loss Sports equipment including while in use no limit on cover within the contents sum insured Freezer contents no limit on cover within the contents sum insured Garden furniture, sculpture, etc no limit on cover within the contents sum insured Garden machinery and ride-on mowers no limit on cover within the contents sum insured Quad bikes and motorcycles up to 50cc (not registered for road use) covered up to 10,000 Marquees covered up to 30,000 Students possessions covered up to 10% of the contents sum insured Possessions of relatives in residential care covered up to 10% of the contents sum insured Property you rent your buildings improvements covered to 10% of the contents sum insured, plus unlimited trace and access cover Loss of metered water or oil covered up to 10,000 Fine Art, Jewellery and Valuables We understand the needs of collectors. Worldwide, we insure more privately owned fine art, antiques and jewellery than any other insurer, and more than two-thirds of the world s top 200 art collectors Agreed Value cover for specified items, with no deductions Lower premium rate for specified items Fine Art, Jewellery and Valuables automatically insured worldwide even when you travel Compensation for loss in value after a claim we pay to repair damage, and also to compensate for any loss in the item s Agreed Value due to the claim Pairs or Sets if part of a pair or set is lost or damaged beyond repair, give us the remaining parts and we ll pay you the Agreed Value of the entire set Newly acquired items immediately covered for 60 days for up to 25% of the specified sum insured. Limit of 500,000 for fine art and 100,000 for all other valuables Professional valuations required only for single items of jewellery over 25,000 and other valuables over 50,000 Single article limit of 25,000 for unspecified fine art and 15,000 for other unspecified valuables We offer access to specialist companies who can help with the valuation, restoration and repair of your valuables, no matter how unusual For significant collections we offer a specialist stand-alone policy with additional services

10 Family Protection Car jacking, Aggravated burglary, Child abduction, Road rage, Air rage, Hijacking, Stalking Chubb has led the way in providing comprehensive cover for the physical and emotional trauma of these crimes Up to 100,000 for death, loss of hearing or sight or limbs as a result of Car jacking, Aggravated burglary, Child abduction, Hijacking or Stalking Car jacking, Aggravated burglary, Child abduction or Hijacking generous cover for medical expenses, psychiatric services, lost salary and rest and recuperation. In addition, Aggravated burglary cover includes improvements to home security, security guards and temporary and permanent relocation expenses Road and Air rage up to 15,000 cover for medical, psychiatric and rest & recuperation expenses for the victim Stalking generous cover for security guards, psychiatric services and temporary relocation expenses Worldwide cover except for countries on the Foreign Office Travel Warnings list Liability Cover Unlike most insurers, we provide this cover as standard Worldwide legal liability includes the USA and Canada. Cover for limits up to 10m available for you, your family and residential domestic staff for legal liabilities to third parties, including libel, slander and defamation Credit Card Fraud cover up to 30,000 Collision damage waiver cover for driving hired or borrowed cars in the USA and Canada Golfers cover 500 for a hole-in-one; Liability Cover; Personal Accident Cover Legal Expenses Generous cover and limits compared to other insurers Legal expenses cover for you and your family up to 100,000 per incident. Includes: Employment disputes; Contract disputes; Bodily injury; Property protection; Tax protection; Jury service; Legal defence Identity Fraud cover up to 100,000 per incident, including reinstating your good name and credit status Home Emergency A useful cover provided as standard Home Emergency cover up to 1,000 towards call out, labour and parts following the emergency breakdown of domestic systems such as power, heating and plumbing Annual Travel Generous per person cover that dovetails with your worldwide contents insurance Cover up to the age of 75 for you and anyone who lives with you, including domestic staff Winter sports cover including ski hire, ski pack & piste closure No pregnancy restrictions No pre-existing medical conditions excluded, except for a few reasonable exceptions such as travelling against medical advice or with a terminal prognosis 10m medical expenses cover per journey 5,000 cancellation cover per person per journey 50,000 personal accident cover 1,000 each for missed departure and delayed luggage 24 hour medical emergency service and advice line Cars (can be bought alone or added to your home policy) Remarkable cover not available as standard from any other insurer Agreed Value on all cars whatever their age for theft or damage beyond repair with no deductions Extended Replacement Cost cover for cars under 15 years old with an Agreed Value of 150,000 or less. We will pay up to 150% of the Agreed Value, should it not be enough to secure you a like-for-like replacement. Only Chubb provides this as standard Extended Reinstatement Value cover for cars over 15 years old. We will pay up to 25% (max 10,000) over the Agreed Value to restore your car after a claim. Only Chubb provides this as standard No premium penalty for no blame claims such as fire, theft, vandalism or being hit while parked A fairer approach to no claims bonuses Comprehensive fully comprehensive cover for: Driving any hired or borrowed car you or named drivers Others driving your cars friends or colleagues All business trips except when charging a fee Driving in Europe at any time during the policy period Only Chubb provides all this as standard You choose your repairer. In addition, unlike others, we make no deduction for wear and tear of replacement parts even tyres We pay for a comparable courtesy car with generous limits after an accident or write-off, including fire & theft. If you don t require a courtesy car we waive any excess up to 1,000 Matching items if we can t match damaged wheels or upholstery we ll replace the set up to 10,000. Only Chubb provides this as standard We replace all child seats automatically after any impact incident No limit audio, windscreen and lock replacement cover Most insurers set low limits. With Chubb cover is unlimited Unfitted spares cover up to 10,000 for spare parts kept at home Trailer cover 5,000 cover for trailers, excluding caravans Exceptional legal expenses cover up to 100,000 far higher than most insurers to recover uninsured losses Inability to drive 3,000 cover for illness and injury Disability 10,000 towards adapting or buying a car Cover for car jacking, road rage and trauma after an accident Free Europe-wide breakdown cover includes breakdowns at home and in borrowed cars Optional personalised number plate cover

11 How does Masterpiece compare with standard home insurance? How do I make decide certain my the house right sums and contents insured are for my insured house for and the contents? right amount? Chubb Masterpiece Step 1 - Our unique appraisal service means we agree with you at the outset what we will pay Our appraiser will advise you After viewing your home, our expert appraiser will recommend a sum insured for your house and also for your contents. Then we usually offer Extended Replacement Cost cover. This means we guarantee to rebuild your house exactly as it was whatever the cost. A standard home policy You re left to work them out yourself You are left to calculate the sums you want insured. Under-estimate and you could be penalised later with any claim being reduced by the proportion of the under-insurance. It s called averaging and is justified by an under-insurance clause in the small print. Can I be sure what I ll receive for specified valuables after a total loss? Yes We agree with you at the outset the exact sum we will pay, without any deductions, for all specified valuables for the policy year. We call this Agreed Value. Masterpiece Motor offers Agreed Value for cars, including a form of Extended Replacement Cost. No Regardless of any sums in your policy for specified valuables, your payment will be based on the trade price at the time of loss, less the deduction of an excess. The same trade price principle will apply for cars in your motor policy. Step 2 - We offer generous worldwide all risks cover without limiting conditions What am I covered for? Are my possessions covered outside my home? Am I covered for accidental loss or damage? Are there any limiting conditions in my home policy? Are there underinsurance penalties? All risks You are covered for loss or damage by any cause. Unless we specifically exclude something you are covered. This also applies to your Masterpiece Motor policy as well. Yes, they re covered worldwide All your possessions are covered worldwide, even when you re travelling. Yes No We trust you to protect your possessions. So we don t insist you keep jewellery in a safe and won t penalise the occasional human error. No Our appraisal means we know what we are insuring, so we have no need of under-insurance clauses. Specific risks only listed in your policy You are only covered for loss or damage by specific causes, usually: theft, fire, storm or water damage. If a cause is not explicitly listed it s not covered. Also, you may have to prove the cause to the insurer. Unlikely Most items will not be covered, although there may be limited cover for specified personal possessions. Unlikely Accidental loss or damage cover may be available, but at additional cost and it is likely to be limited. Yes, there will be restrictions There are likely to be a range of restrictive conditions, including alarm and jewellery clauses. These could invalidate your policy. Yes, there will be penalties If your sums insured are incorrect, your claim may be reduced by the proportion of the under-insurance. Step 3 Brokers consistently rate our claim service as the best in the industry How quickly will my claim be paid? On what basis will my claim be paid? We aim to pay claims fast Steps 1 & 2 settle most claims in advance. So the moment you claim, our claim specialists are ready to move. Your choice New for old including clothes. Your choice of cash or replacement for a total loss. Your choice of supplier or repairer. There are no guarantees You will be asked to justify the amount of your claim. This can often be difficult for example, purchase receipts are not always at hand. Your insurer s choice New for old except clothes. Possibly no cash option for a total loss. Unlikely to offer a choice of supplier or repairer. Chubb Insurance Company of Europe SE Chubb Insurance Company of Europe SE is a European company registered in England and Wales under company number SE13. The registered office address is 106 Fenchurch Street, London EC3M 5NB. Chubb is authorised and regulated by the Financial Services Authority. Cover is underwritten by Chubb Insurance Company of Europe SE. This information is descriptive only. The precise cover provided is subject to the terms and conditions of the policy as issued. For promotional purposes, Chubb means member insurers of the Chubb Group of Insurance Companies. For the purposes of training and monitoring our service, some telephone calls may be recorded. Printed on environmentally friendly paper from a sustainable source. Chubb Insurance Company of Europe 2009 Masterpiece Policy Cover Highlights/ June 09