8-K

                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549
                                    FORM 8-K

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

Date of Report (Date of earliest event reported) September 30, 2004

                        CINCINNATI FINANCIAL CORPORATION
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             (Exact name of registrant as specified in its charter)
          Ohio                         0-4604                  31-0746871
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(State or other jurisdiction        (Commission             (I.R.S. Employer
    of incorporation)               File Number)           Identification No.)

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

Registrant's telephone number, including area code (513) 870-2000
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         (Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions:

|_|   Written communications pursuant to Rule 425 under the Securities Act (17
      CFR 230.425)

|_|   Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
      240.14a-12)

|_|   Pre-commencement communications pursuant to Rule 14d-2(b) under the
      Exchange Act (17 CFR 240.14d-2(b))

|_|   Pre-commencement communications pursuant to Rule 13e-4(c) under the
      Exchange Act (17 CFR 240.13a-4(c))



Item 7.01 Regulation FD Disclosure. On September 30, 2004, Cincinnati Financial
Corporation issued the attached news release "Cincinnati Financial Corporation
Estimates Hurricanes Frances and Ivan Catastrophe Losses."

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.

Item 9.01 Financial Statements and Exhibits.

(c) Exhibits

      Exhibit 99.1 - News release dated September 30, 2004, titled "Cincinnati
      Financial Corporation Estimates Hurricanes Frances and Ivan Catastrophe
      Losses."



                                    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 hereunto duly authorized.

                                        CINCINNATI FINANCIAL CORPORATION

Date September 30, 2004

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

EX-99.1

                                                                    Exhibit 99.1

         Cincinnati Financial Corporation Estimates Hurricanes Frances
                          and Ivan Catastrophe Losses

- - Frances and Ivan raise total third-quarter pretax catastrophe loss estimate

                      to $89 million, net of reinsurance

        - Storm teams continue to aid policyholders in affected states


    CINCINNATI, Sept. 30 /PRNewswire-FirstCall/ -- Cincinnati Financial
Corporation (Nasdaq: CINF) today announced an estimate of $13 million for
pretax catastrophe losses resulting from Hurricane Frances and a preliminary
estimate of $36 million, net of reinsurance, for pretax catastrophe losses
resulting from Hurricane Ivan. The company does not yet have an estimate of
anticipated losses from Hurricane Jeanne.

    Due to the difficulty of reaching policyholders and properties in certain
areas of Florida to assess damage, the company has not been able to develop a
complete estimate for Ivan losses. At this time, the company is aware of
losses before reinsurance from Ivan of more than $45 million and believes
total losses could rise substantially. However, under the company's property
catastrophe reinsurance agreements, the company retains only 5 percent of
losses between $45 million and $500 million from a single catastrophe event.
Accordingly, third-quarter catastrophe losses, net of reinsurance, would
increase by $1 million for every $20 million in Ivan-related claims above
$45 million.

    Chairman and Chief Executive Officer John J. Schiff, Jr., CPCU, commented,
"We've been working to help our independent agents meet the needs of
policyholders as they seek to return their lives to normal as quickly as
possible. More than 100 experienced Cincinnati claims representatives have
traveled to Alabama and Florida over the course of the past seven weeks to
work with our local staff, making certain that personal lines and commercial
lines policyholders receive immediate assistance."

    The company's third-quarter 2004 catastrophe losses have included:


                                                           Preliminary Loss
    Third-Quarter         Primary States  Reported Claims  Estimate (pretax,
       Event       Dates    Affected    (through Sept. 29) net of reinsurance)

    Hurricane
     Jeanne      Sept. 25-27  Florida,      Not yet            Not yet
                              Georgia       available          available

    Hurricane
     Ivan        Sept. 15-21  Alabama,      < 4,000            $36 million
                              Florida,
                              Georgia,
                              Pennsylvania

    Hurricane
     Frances     Sept. 3-8    Florida       < 1,000            $13 million

    Tropical
     Storm
     Gaston      Aug. 29-30   Virginia      < 100              $1 million

    Hurricane
     Charley     Aug. 13-14   Florida,      < 900              $25 million
                              Georgia

    Wind Storm   July 12-14   Illinois      < 1,100            $14 million



    Based on the preliminary loss estimates, third-quarter events through
September 29, excluding Jeanne, result in an estimate of $89 million for
third-quarter pretax catastrophe losses, net of reinsurance. At that level,
the contribution to the third-quarter property casualty combined ratio would
be approximately 12 percentage points. The impact on after-tax earnings per
share would be approximately 34 cents.

    Schiff noted, "Even on this preliminary basis, which does not include
Jeanne, our estimate of total year-to-date catastrophe losses rises to
$136 million, net of reinsurance. This estimate is above the $90 million to
$100 million range we had assumed when developing our target full-year 2004
GAAP combined ratio of 92 percent. While we continue to anticipate strong
profitability from our underlying business during the remainder of 2004, we
will update our combined ratio guidance based on more complete quarter-end and
catastrophe loss information when we announce final third-quarter results in
October."

    The effect of catastrophe losses on recent periods has been:


    (Dollars in
     millions,
     except per
     share)       Q204    Q104    1H04    Q403    Q303    Q203    Q103  FY2003

    Total
     catastrophe
     losses
     (pretax,
     net of
     reinsurance)  $46      $1     $47      $7     $41     $47      $2     $97

    Combined
     ratio
     impact       6.5%    0.1%    3.3%    1.0%    6.1%    7.1%    0.4%    3.6%

    Catastrophe
     losses per
     share (after
     tax)       $ 0.18  $ 0.00  $ 0.18  $ 0.03  $ 0.16  $ 0.18  $ 0.01  $ 0.37

     (Per share amounts have been adjusted for the 5 percent stock dividend
      paid June 15, 2004. The sum of the quarterly reported amounts may not
      equal the full year as each is computed independently.)



    Cincinnati Financial plans to report third-quarter results on Thursday,
October 21. A conference call to discuss the results will be held at 2:30 p.m.
EDT on that day. Details regarding the Internet broadcast of the conference
call are available on the Investors page of http://www.cinfin.com .


    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 http://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, environmental events, terrorism incidents or other causes
     - increased frequency and/or severity of claims
     - events or conditions that could weaken or harm the company's
       relationships with its independent agencies and hamper opportunities to
       add new agencies, resulting in limitations on the company's
       opportunities for growth, such as:
         - downgrade of the company's financial strength ratings,
         - concerns that doing business with the company is too difficult or
         - perceptions that the company's level of service is no longer a
           distinguishing characteristic in the marketplace
     - delays in the development, implementation, performance and
       benefits of technology projects and enhancements
     - amount of reinsurance purchased and financial strength of
       reinsurers
     - inaccurate estimates or assumptions used for critical accounting
       estimates, including loss reserves
     - results and timely completion of assessment and remediation of internal
       controls for financial reporting under the Sarbanes-Oxley Act of 2002
     - recession or other economic conditions or regulatory, accounting or tax
       changes 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
       the market value of Fifth Third Bancorp (Fifth Third) shares, a
       significant equity holding
     - events that lead to a significant decline in the market value of a
       particular security and impairment of the asset
     - prolonged low interest rate environment or other factors that limit the
       company's ability to generate growth in investment income
     - 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
     - not receiving an exemptive order pursuant to the Investment Company Act
       of 1940 from the SEC, and the resulting changes that would be required
       in the company's operations


     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 affecting corporate financial reporting and
governance. The ultimate changes and eventual effects, if any, of these
initiatives are uncertain.

    Readers are cautioned that the company undertakes no obligation to review
or update the forward-looking statements included in this material.



SOURCE  Cincinnati Financial Corporation
    -0-                             09/30/2004
    /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:  CCA MAV