8-K

                                 UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                              Washington, DC 20549

                                    FORM 8-K

                                 CURRENT REPORT

     Pursuant to Section 13 OR 15(d) of the Securities Exchange Act of 1934

                          Commission file number 0-4604

                        CINCINNATI FINANCIAL CORPORATION
             (Exact name of registrant as specified in its charter)

                    Ohio                                    31-0746871
- ---------------------------------------------    -------------------------------
(State or other jurisdiction of incorporation    (I.R.S. Employer Identification
              or organization)                                 No.)

    6200 S. Gilmore Road, Fairfield, Ohio                   45014-5141
- ---------------------------------------------    -------------------------------
  (Address of principal executive offices)                  (Zip code)

       Registrant's telephone number, including area code: (513) 870-2000


Item 9. Regulation FD Disclosure. On December 11, 2003, Cincinnati Financial
Corporation issued the attached news release. The news release is furnished as
Exhibit 99.1 hereto and is incorporated herein by reference. This report should
not be deemed an admission as to the materiality of any information contained in
the news release.

The information furnished in this report shall not be deemed "filed" for
purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or
otherwise subject to the liabilities of that Section, nor shall such information
be deemed incorporated by reference in any filing under the Securities Act of
1933, as amended.

Signature

Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.

                                          CINCINNATI FINANCIAL CORPORATION

                                          /S/ Kenneth W. Stecher
                                          ------------------------------------
                                          Kenneth W. Stecher
                                          Chief Financial Officer, Senior Vice
                                          President, Secretary and Treasurer
                                          (Principal Accounting Officer)
                                          December 11, 2003

EX-99.1

                                                                    Exhibit 99.1

   Cincinnati Financial Corporation Addresses Status of Ohio UM/UIM Reserves

        - Comments on Impact of November State Supreme Court Decision


    CINCINNATI, Dec. 11 /PRNewswire-FirstCall/ -- Cincinnati Financial
Corporation (Nasdaq: CINF) today announced that the Ohio Supreme Court's
recent reversal of its Scott-Pontzer decision could result in the release of
approximately $75 million in uninsured motorist/underinsured motorist (UM/UIM)
reserves. This amount would include some Cincinnati Insurance Company reserves
for losses incurred but not yet reported (IBNR) as well as case reserves for
reported claims, including approximately $6 million in case reserves released
in November 2003. Because the court still must rule on motions to reconsider
the reversal, the company believes it is premature to release all Scott-
Pontzer-related reserves or specify the timing of their potential release.

    In the November 5, 2003, decision, the court ruled that an employer's
commercial automobile insurance policy only covers injured employees and only
when the accident happens in the course and scope of their employment. UM/UIM
claims dating back as far as 15 years would be affected by the court's recent
decision.

    In 1999, the Ohio Supreme Court's decision in Scott-Pontzer v. Liberty
Mutual greatly increased the exposure on commercial auto insurance policies.
That ruling extended commercial UM/UIM coverage in force over the past 15
years to employees when they were not at work and to their resident family
members. It contributed to changes in policy wording for UM/UIM coverage.
Additionally, the same court's 2000 decision in Linko v. Indemnity effectively
caused insurers to extend UM/UIM coverage, at the newly increased level of
exposure, to every auto insurance policy in Ohio at no additional premium. The
court rulings affected all auto insurers in the state.

    The company established case reserves of approximately $40 million in 1999
and 2000. In addition, the company established a $110 million IBNR reserve,
net of reinsurance, for past UM/UIM losses incurred but not yet reported in
2000. Over the past three years, the company had reduced the IBNR reserve to
$18 million as of November 1, 2003, as it established case reserves and paid
approximately $55 million to claimants.

    Chairman and Chief Executive Officer John J. Schiff, Jr., CPCU, noted,
"Following the court's 1999 and 2000 Scott-Pontzer and Linko decisions, we
moved quickly to protect our policyholders from court-mandated
responsibilities they never intended to fund. At the same time, we have been
fulfilling our obligations, as the court deemed, under coverages that had been
in place over the prior years.

    "The court's recent reversal is good for policyholders, good for our state
and good for the insurance industry. Presuming the court sustains its opinion,
our shareholders also will benefit from the contribution to earnings of the
released reserves."

    Cincinnati Financial Corporation offers property and casualty insurance,
its main business, through The Cincinnati Insurance Company, The Cincinnati
Indemnity Company and The Cincinnati Casualty Company. The Cincinnati Life
Insurance Company markets life and disability income insurance and annuities.
CFC Investment Company supports the insurance subsidiaries and their
independent agent representatives through commercial leasing and financing
activities. CinFin Capital Management Company provides asset management
services to institutions, corporations and individuals. For additional
information, please visit the company's Web site at www.cinfin.com .

    This is a "Safe Harbor" statement under the Private Securities Litigation
Reform Act of 1995. Certain forward-looking statements contained herein
involve potential risks and uncertainties. The company's future results could
differ materially from those discussed. Factors that could cause or contribute
to such differences include, but are not limited to: unusually high levels of
catastrophe losses due to changes in weather patterns or other causes;
increased frequency and/or severity of claims; environmental events or
changes; insurance regulatory actions, legislation or court decisions that
increase expenses or place the company at a disadvantage in the marketplace;
adverse outcomes from litigation or administrative proceedings; recession or
other economic conditions resulting in lower demand for insurance products;
sustained decline in overall stock market values negatively affecting the
company's equity portfolio, in particular a sustained decline in market value
of Fifth Third Bancorp shares; events that lead to a significant decline in
the market value of a particular security and impairment of the asset; delays
in the development, implementation and benefits of technology enhancements;
and decreased ability to generate growth in investment income.

    Further, the company's insurance businesses are subject to the effects of
changing social, economic and regulatory environments. Public and regulatory
initiatives have included efforts to adversely influence and restrict premium
rates, restrict the ability to cancel policies, impose underwriting standards
and expand overall regulation. The company also is subject to public and
regulatory initiatives that can affect the market value for its common stock,
such as recent measures impacting corporate financial reporting and
governance. The ultimate changes and eventual effects, if any, of these
initiatives are uncertain.



SOURCE  Cincinnati Financial Corporation
    -0-                             12/11/2003
    /CONTACT: Investors, Heather J. Wietzel, +1-513-603-5236, or Media,
Joan O. Shevchik, +1-513-603-5323, both of Cincinnati Financial Corporation/
    /Web site:  http://www.cinfin.com /
    (CINF)

CO:  Cincinnati Financial Corporation
ST:  Ohio
IN:  FIN INS
SU:  LAW