Profile: Travelers Companies Inc (TRV)
29 Apr 2016
The Travelers Companies, Inc., incorporated on March 5, 1853, is a holding company. Through its subsidiaries, the Company is engaged in providing a range of commercial and personal property and casualty insurance products and services to businesses, Government units, associations and individuals. The Company has three operating segments: Business and International Insurance segment, Bond & Specialty Insurance segment and the Personal Insurance segment.
Business and International Insurance
The Company’s Business and International Insurance segment offers a range of property and casualty insurance and insurance related services to its customers, primarily in the United States, as well as in Canada, the United Kingdom, the Republic of Ireland and throughout other parts of the world. Business and International Insurance segment includes domestic and international operations. Domestic includes select accounts, middle market, national accounts, first party and specialized distribution. Select accounts provides small businesses with property and casualty products, including commercial multi-peril, commercial property, general liability, commercial auto and workers' compensation insurance. Middle market provides mid-sized businesses with property and casualty products, including commercial multi-peril, commercial property, general liability, commercial auto and workers' compensation insurance, as well as risk management, claims handling and other services. Middle market also provides mono-line umbrella and excess coverage insurance. National Accounts provides companies with casualty products and services, including workers' compensation, general liability and automobile liability. First Party provides traditional and customized property insurance programs to large and mid-sized customers. It offers these programs through National Property, insurance for goods in transit and movable objects, as well as builders' risk insurance, through Inland Marine, insurance for the marine transportation industry and related services, as well as other businesses involved in international trade, through Ocean Marine. First Party also includes breakdown coverages for equipment, including property and business interruption coverages, through Boiler & Machinery. Specialized distribution markets and underwrites its products to customers through brokers, wholesale agents, program managers and specialized retail agents that manage customers' insurance requirements. International operations include offering property and casualty insurance and risk management services to customer groups, including those in the technology, public services, and financial and professional services industry sectors.
The Business and International Insurance segment’s coverages include workers' compensation, commercial automobile, commercial property, general liability and commercial multi-peril. Workers' compensation provides coverage for employers for specified benefits payable under state or federal law for workplace injuries to employees. Commercial automobile provides coverage for businesses against losses incurred from personal bodily injury, bodily injury to third parties, property damage to an insured's vehicle and property damage to other vehicles and other property resulting from the ownership, maintenance or use of automobiles and trucks in a business. Commercial property provides coverage for loss of or damage to buildings, inventory and equipment from a variety of events, including hurricanes and other windstorms, tornadoes, earthquakes, hail, wildfires, severe winter weather, floods, volcanic eruptions, tsunamis, theft, vandalism, fires, explosions, terrorism and financial loss due to business interruption resulting from covered property damage. General liability provides coverages for businesses against third-party claims arising from accidents occurring on their premises or arising out of their operations, including as a result of injuries sustained from products sold. Commercial multi-peril provides a combination of the property and liability coverages.
Bond & Specialty Insurance
The Company’s Bond & Specialty Insurance segment provides surety, crime, management and professional liability coverages and related risk management services to a range of domestic customers. The range of coverages include performance, payment and commercial surety and fidelity bonds for construction and general commercial enterprises; management liability coverages for losses caused by the actual or alleged negligence or misconduct of directors and officers or employee dishonesty; employment practices liability coverages and fiduciary coverages for public corporations, private companies and not-for-profit organizations; professional liability coverage for actual or alleged errors and omissions committed in the course of professional conduct or practice for a variety of professionals, including lawyers and design professionals, and professional and management liability, property, workers' compensation, auto and general liability, and fidelity insurance for financial institutions. The Bond & Specialty Insurance segment, with the Business and International Insurance segment, continues to make investments in technology utilizing Internet-based applications to provide real-time interface capabilities with its independent agencies and brokers. Its coverages include fidelity and surety, general liability and other. Fidelity and Surety provides fidelity insurance coverage, which protects an insured for loss due to embezzlement or misappropriation of funds by an employee, and surety, which is a three-party agreement whereby the insurer agrees to pay a third party or make complete an obligation in response to the default, acts or omissions of an insured. General liability provides coverage for specialized liability exposures. Other coverages include property, workers' compensation, commercial automobile and commercial multi-peril.
The Company's Personal Insurance segment includes a range of property and casualty insurance covering individuals' personal risks. Personal Insurance has developed a product management methodology that integrates the disciplines of underwriting, claim, actuarial and product development. Its coverages include personal automobile and homeowners and other. Personal automobile provides coverage for liability to others for both bodily injury and property damage, uninsured motorist protection, and for physical damage to an insured's own vehicle from collision, fire, flood, hail and theft. Homeowners and other provides protection against losses to dwellings and contents from a variety of perils (excluding flooding) as well as coverage for personal liability. The Company writes homeowners insurance for dwellings, condominiums and tenants, and rental properties. The Company also writes coverage for boats and yachts and personal items, such as jewelry, and also writes coverages for umbrella liability, identity fraud, and weddings and special events.
Travelers Companies Inc
385 WASHINGTON ST
SAINT PAUL MN 10017