**CHUBB**

**Date Issued:** 06/25/92  
**Policy No.:** (93) 7908-98-98  
**Insured:** INTERNATIONAL BUSINESS MACHINES CORP. ETAL  
**Name of Company:** FEDERAL INSURANCE COMPANY  
**Effective Date:** 05/21/92  
**Producer:** JOHNSON & HIGGINS

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**Dear Policyholder:**

Thank you for again choosing a member insurer of the Chubb Group to participate on your excess liability insurance program.

You may notice that your policy looks a little different this year. This is because your renewal has been laser-printed to provide you with the clearest, crispest, most accurate policy contract possible.

As part of our commitment to quality, we continually seek to develop new ways of serving you better. Our conversion to laser printing of policies and endorsements is one small way we can meet this goal.

We hope you are satisfied with the quality of the printing and the accuracy of your renewal contract. For specific information about your policy or its coverages, please contact your Chubb agent or broker.