Chubb Sets 18.4% Calif. Home Rate Cut

Chubb announced its rate reduction at a California Department of Insurance press conference in Redwood City, Calif., attended by State Insurance Commissioner Steve Poizner and executives from Chubb's

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The Warren, N.J.-based Chubb Group of Insurance Companies said it will lower its homeowners insurance rates in California by an average of 18.4 percent.

Chubb announced its rate reduction at a California Department of Insurance press conference in Redwood City, Calif., attended by State Insurance Commissioner Steve Poizner and executives from Chubb’s Northern California branches and New Jersey home office.

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