FORM 4 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person * SCHIFF JOHN J JR   2. Issuer Name and Ticker or Trading Symbol CINCINNATI FINANCIAL CORP [CINF] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) __X__ Director _____ 10% Owner __X__ Officer (give title below) _____ Other (specify below) PRESIDENT & CEO (Last) (First) (Middle) 6200 SOUTH GILMORE RD 3. Date of Earliest Transaction (Month/Day/Year) 12/13/2006 (Street) FAIRFIELD, OH 45014-5141 4. If Amendment, Date Original Filed(Month/Day/Year) 6. Individual or Joint/Group Filing(Check Applicable Line) _X_ Form filed by One Reporting Person ___ Form filed by More than One Reporting Person (City) (State) (Zip) Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1.Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4) Code V Amount (A) or (D) Price Common Stock 12/13/2006 12/13/2006 G V 12,500 D $ 0 4,099,009 D   Common Stock 401K               1,541 D   Common Stock               3,352,688 (1) I CHARITABLE LEAD ANNUITY TRUST Common Stock               107,186 I CO. PENSION PLAN Common Stock               114,249 I CORPORATION Common Stock               49,563 I SCHIFF TRUST Common Stock               563,633 I SPOUSE

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security (Instr. 3)

2. Conversion or Exercise Price of Derivative Security

3. Transaction Date (Month/Day/Year)

3A. Deemed Execution Date, if any (Month/Day/Year)

4. Transaction Code (Instr. 8)

5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5)

6. Date Exercisable and Expiration Date (Month/Day/Year)

7. Title and Amount of Underlying Securities (Instr. 3 and 4)

8. Price of Derivative Security (Instr. 5)

9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)

10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)

11. Nature of Indirect Beneficial Ownership (Instr. 4)

Code

V

(A)

(D)

Date Exercisable

Expiration Date

Title

Amount or Number of Shares

Employee Stock Option (right to buy)

$ 38.8

01/19/2005

01/19/2014

Common Stock

55,125

55,125

D

Employee Stock Option (right to buy)

$ 41.6285

(2)

01/25/2015

Common Stock

63,000

63,000

D

Employee Stock Option (right to buy)

$ 45.26

(2)

02/02/2016

Common Stock

50,000

50,000

D

Phantom Stock

$ 0

08/08/1988

08/08/1988

Common Stock

11,397

11,398

D

Stock Option

$ 26.95

(2)

01/25/2010

Common Stock

25,125

25,125

D

Stock Option

$ 30.6

01/27/2000

01/27/2009

Common Stock

115,763

115,763

D

Stock Option

$ 30.72

08/24/1999

08/24/2008

Common Stock

11,025

11,025

D

Stock Option

$ 32.45

02/01/2004

02/01/2013

Common Stock

55,125

55,125

D

Stock Option

$ 32.81

01/31/2002

01/31/2011

Common Stock

55,125

55,125

D

Stock Option

$ 34.96

01/28/2003

01/28/2012

Common Stock

55,125

55,125

D

Stock Option

$ 41.14

01/05/1999

01/05/2008

Common Stock

115,763

115,763

D

Reporting Owners

Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
SCHIFF JOHN J JR 6200 SOUTH GILMORE RD FAIRFIELD, OH 45014-5141	X		PRESIDENT & CEO

Signatures

JOHN J SCHIFF, JR.		12/15/2006
**Signature of Reporting Person		Date

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 4(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(2)	The option is exercisable in three equal annual installments beginning on the first anniversary of the date of grant.
(1)	Shares are gifted quarterly from the Charitable Lead Annuity Trust.

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