January 31, 2024
FOR IMMEDIATE RELEASE
Coalition of Survivors & Advocates Blasts Chubb for continued failure to provide restitution for CVA survivors despite billions in profit this quarter
CHUBB’S message is loud and clear: profit comes before moral and contractual obligations to survivors of childhood sexual abuse
NEW YORK, NY (January 31st) — Following the announcement of Chubb’s historic quarter in earnings – with net income soaring 156.5% to $3.3 billion – the Coalition for Just and Compassionate Compensation (CJCC) released the following statement:
“CHUBB’S message is loud and clear: profit comes before moral and contractual obligations to survivors of childhood sexual abuse. The insurance giant’s record profits this quarter dwarf the estimated liability for sex abuse survivors, yet company executives refuse to engage in good faith efforts to settle claims,” said David Catalfamo, Executive Director of the CJCC. “It’s time for regulators and legislators to investigate CHUBB’s predatory scheme to fatten their pockets by refusing to pay out claims for child sexual abuse survivors.”
Survivors of childhood sexual abuse have claims at an estimated cost of $1 billion that Chubb has made clear it has no intention to pay – despite having a market capitalization of over $85 billion and record profits.
Evan G. Greenberg, Chairman and Chief Executive Officer of Chubb Limited, said: “We had a record fourth quarter which contributed to a blowout year – the best in our company’s history.”
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The Coalition for Just and Compassionate Compensation (“CJCC”) is an independent alliance of survivors of child sex abuse, their representatives, and advocates seeking full restitution for survivors of child sex abuse. Among members of the coalition are former New York State Court of Claims Judge Judith Hard and attorneys James Marsh, Founding Partner at Marsh Law Firm, Jeff Herman, Founder of Herman Law Firm, and Hillary Nappi, Partner at Hach Rose Schirripa & Cheverie, who represent thousands of sexual abuse survivors in litigation against public and private entities.