FOR IMMEDIATE RELEASE
April 30, 1997



Jill Lawrence
Virginia Economic Development Partnership
(804) 371-0049
Jill Lawrence
VEDP
(804) 371-0049
Governor Allen Announces $10 Million Investment for Chesapeake
-- Chubb Group Insurance Firm to Hire 250 for First Rapid Response Unit --


Richmond - Governor George Allen today announced that New Jersey-based Chubb Group of Insurance Companies will locate its first Rapid Response Unit centralized claim service center in Chesapeake. The $10 million facility expects to employ more than 250 people when it opens in 1998 and may expand in future years.

"Chubb's decision to locate its East Coast headquarters in Chesapeake is a strong vote of confidence in our quality workforce and continuing Virginia Renaissance of economic growth, opportunity and prosperity," said Governor Allen. "I am pleased to welcome a fine corporate citizen as Chubb expands its operations through its Rapid Response Unit. These will be good paying jobs for people in the Hampton Roads area. I am also pleased to approve a $300,000 grant from the Governor's Opportunity Fund to assist our winning teammates in Chesapeake with this great investment that will bring new jobs to Virginia."

A 65,000 square foot state-of-the-art building in Chesapeake's Battlefield Corporate Center will be constructed to house the Rapid Response Unit. Chubb will handle claims east of the Mississippi River from this facility which will serve as the primary training center for future employees. The company selected Virginia because of its diverse workforce, quality of life and central location on the Eastern seaboard.

"Chubb is confident that the high quality of Virginia's employees will allow us to maintain the standard of excellence our customers expect from our claim service," said Doris Johnson, senior vice president of Chubb & Son Inc. "The Rapid Response Unit demonstrates our commitment to look for new ways to respond to the needs of policy holders."

"We're pleased to have the Chubb Group of Insurance Companies, one of the top insurers worldwide, select Chesapeake as the ideal location to expand their operations," said Chesapeake Mayor William E. Ward.

Governor Allen approved a $300,000 grant from the Governor's Opportunity Fund to assist the City of Chesapeake with the project. The Virginia Economic Development Partnership, the Hampton Roads Economic Development Alliance and the City of Chesapeake assisted the company with its decision. The Virginia Department of Business Assistance will provide workforce training services.

Mexico is Virginia's sixth largest export destination. In 1996, Virginia firms exported $342 million worth of products there, an increase from $320.8 million in 1995.


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