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

                        Date of Report: January 27, 2004

                          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
              or organization)                          Identification  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 January 26, 2004, 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)
                          January 27, 2004



Exhibit 99.1 - News Release issued January 26, 2004

EX-99.1

                                                                    Exhibit 99.1

               The Cincinnati Life Insurance Company to Remediate
                        Predecessor's Pricing Practices

      - Settlement involves policies purchased between 1947 and 1968 from
        Inter-Ocean Insurance Company

      - Review was part of nationwide examination of pricing practices of life
        insurers

      CINCINNATI, Jan. 26 /PRNewswire-FirstCall/ -- The Cincinnati Life
Insurance Company today announced an agreement with the Ohio Department of
Insurance and with plaintiffs in a civil lawsuit. The ODI's regulatory
examination and the lawsuit arose from pricing of some policies purchased
between 1947 and 1968 from Cincinnati Life's predecessor company, Inter-Ocean
Insurance Company.

      Inter-Ocean was acquired by Cincinnati Financial Corporation in 1973, and
in 1988 it merged into Cincinnati Life, a new life insurance subsidiary of the
parent.

      The terms of the agreement are incorporated into a consent order to be
issued by the Ohio Department of Insurance as part of Cincinnati Life's global
settlement. Additionally, the Butler County Court of Common Pleas has granted
preliminary approval to the settlement agreement for the civil lawsuit, Cone v.
Cincinnati Life Insurance Company.

      The settlement covers 4,774 known policyholders and potentially up to
3,500 former policyholders for whom records are no longer available. Cincinnati
Life expects to pay a minimum of $1 million under the agreement. If all current
and former policyholders claim remediation benefits, the total payout could
reach as high as $1.9 million, including a regulatory fine and policy
enhancements. All affected policies still in force will be declared fully paid
up, with an option to increase either the policy's death benefit or the cash
payment to the policyholder under the settlement. Former policyholders or
beneficiaries will be eligible for cash payments. The settlement payments will
not materially affect current or future earnings of Cincinnati Life or its
parent.

      Inter-Ocean was involved in door-to-door marketing of small face-amount
policies. The policies in question generally were purchased in the 1940s through
the mid-1960s by policyholders who wanted to cover burial costs on payment terms
they could manage. As widely reported in both the national and trade press over
the past three years, life insurers priced some industrial life policies using
race-based mortality tables that recognized actual differences in life
expectancy. The National Association of Insurance Commissioners previously
estimated that regulators would examine more than 100 life insurance companies
to remedy these past industrywide pricing practices.

      "Cincinnati Life does not condone any racially discriminatory practices,"
said Senior Vice President Timothy L. Timmel. "We chose to retain specialists to
thoroughly research historical policy records, including in-force, lapsed and
surrendered policies as well as policies on which death benefits had been paid.
We reported to and cooperated fully with the Ohio Department of Insurance, which
led regulators in other states in a joint examination. Our shared goal was to
determine the right and fair thing to do, and we're confident that this
settlement resolves issues in the best interests of the policyholders."

      Cincinnati Financial Corporation (Nasdaq: CINF) 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.

      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-                             01/26/2004
    /CONTACT:  Joan O. Shevchik of Cincinnati Financial Corporation,
+1-513-603-5323/
    /First Call Analyst: /
    /FCMN Contact: /
    (CINF)

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