May 13, 2024
Contact: press@justice4survivors.com, (203) 641-6681
FOR IMMEDIATE RELEASE
CHUBB Refuses to Comply With Child Victims Act, Greenberg Does Not Deserve Shareholder Support
New York – Today, the Coalition for Just and Compassionate Compensation, an alliance of survivors of child abuse, their representatives, and advocates, sent a letter to New York State Comptroller, Thomas DiNapoli, urging the State to withhold the vote on CHUBB CEO Evan Greenberg at CHUBB’s upcoming Annual Meeting. Under Evan Greenberg’s leadership, CHUBB has failed to adhere to the Department of Financial Services guidelines for insurance companies and the Child Victims Act, denying just compensation to survivors. To protect its bottom line, CHUBB continues to engage in practices that involve the delaying and denying of insurance claims related to the almost 11,000 child sexual abuse survivors.
The full text of the letter can be found below:
Honorable Thomas P. DiNapoli
Office of the State Comptroller
110 State Street
Albany, NY 12236
Subject: Withhold the Vote on Re-Electing CHUBB CEO Evan Greenberg
Dear Mr. DiNapoli,
We are a coalition of child sexual abuse survivors, legal representatives, and advocates writing to urge the New York Comptroller’s Office to withhold its vote in support of CHUBB CEO Evan Greenberg at this year’s Annual Meeting of Shareholders. This action is prompted by a profound concern with Mr. Greenberg’s leadership and his company’s continued inability to adhere to the Department of Financial Services guidelines for insurance companies and the Child Victims Act denying just compensation to survivors.
Under Mr. Greenberg’s direction, CHUBB Insurance continues to openly defy the spirit and letter of the Child Victims Act (CVA) and has engaged in practices that involve the delaying and denying of insurance claims related to the almost 11,000 child sexual abuse survivors.
We’ve seen numerous examples of insurance companies –– CHUBB chief among them –– refusing to provide coverage for child sexual abuse cases, including in hospitals, schools, counties, and religious institutions, to protect their profit margins at the expense of just compensation for survivors. Such actions not only compromise CHUBB Insurance’s integrity and ethical responsibilities but also undermine its financial and reputational standing in the eyes of its shareholders and the public.
As a fiduciary of public funds, including investments in CHUBB Insurance, the Comptroller’s Office has the right and responsibility to ensure that the companies within its investment portfolio operate with financial efficacy and the highest ethical standards. CHUBB’s “Code of Conduct” speaks volumes about integrity, respect, and responsibility, highlighting a commitment to human rights and fair treatment. However, its treatment and obstruction of insurance cases involving child sexual abuse survivors is entirely at odds with its mission.
New York State has played a pivotal role in the passage of the Child Victims Act (CVA), demonstrating significant legislative leadership after over a decade of advocacy and intense debates. The state’s efforts provided a blueprint for similar laws across the United States, reflecting its commitment to addressing long-standing injustices for survivors of childhood sexual abuse. This legislative victory marked a critical step in expanding access to justice for countless individuals. But over 5 years since its passage, less than 5% of cases have been settled.
Therefore, we urge the New York Comptroller’s Office to utilize its influence as a significant shareholder of CHUBB to withhold voting on behalf of CEO Evan Greenberg at this year’s Annual Meeting of Shareholders. This action, while largely symbolic, will demonstrate to CHUBB leadership and its Board of Directors that its shareholders aren’t interested in reaping profits built on the denial of critically necessary financial restitution for survivors of child sex abuse.
New York has always led the way in this area, and we thank you for considering this significant matter. We hope you will support and act to provide just compensation for survivors.
Sincerely,
The Coalition for Just and Compassionate Compensation
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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 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.