Chubb Gets Subpoena Over Finite Risk Insurance
By Chad Clinton
Dow Jones Newswires
May 11, 2005
WASHINGTON (Dow Jones)--Chubb Corp. (CB) disclosed Wednesday that it received a subpoena from the U.S. Attorney for the Southern District of New York as part of an investigation into the use of finite risk insurance and related products.
The insurance holding company said in a document filed with the Securities and Exchange Commission that it believes this investigation involves a number of industry participants and that it hasn't been singled out in being asked to provide such information.
Chubb said it plans to cooperate fully with this investigation.
No further information was provided in the filing.