Profile: Travelers Companies Inc (TRV)
24 Mar 2017
The Travelers Companies, Inc., incorporated on March 5, 1853, is a holding company. The Company operates through three segments: Business and International Insurance; Bond & Specialty Insurance, and Personal Insurance. The Company, through its subsidiaries, is engaged in providing a range of commercial and personal property and casualty insurance products and services to businesses, government units, associations and individuals.
Business and International Insurance
The Company's Business and International Insurance segment offers an array of property and casualty insurance and insurance related services to its clients, in the United States and in Canada, as well as in the United Kingdom, the Republic of Ireland, Brazil and throughout other parts of the world. The Business and International Insurance segment includes domestic and international operations. Its domestic operations include select accounts, middle market, national accounts, first party and specialized distribution. Its select accounts provide small businesses with property and casualty products, including commercial multi-peril, commercial property, general liability, commercial auto and workers' compensation insurance. Its 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 through Excess Casualty. Its national accounts provide companies with casualty products and services, including workers' compensation, general liability and automobile liability.
The Company, under 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 provides insurance coverage for the commercial transportation industry, as well as commercial liability and commercial property policies for small, specialty classes of commercial business primarily on an excess and surplus lines basis, through Northland, and tailored property and casualty programs on an admitted basis for customers with common risk characteristics or coverage requirements through National Programs. Specialized Distribution also serves small to medium-sized agricultural businesses, including farms, ranches, wineries and related operations, through Agribusiness.
Bond & Specialty Insurance
The Company's Bond & Specialty Insurance segment provides surety, fidelity, management liability, professional liability, and other property and casualty coverages and related risk management services to a range of primarily domestic customers, utilizing various degrees of financially-based underwriting approaches. Its range of coverages includes performance, payment and commercial surety and fidelity bonds for construction and general commercial enterprises; management liability coverages, including directors and officers liability, employee dishonesty, employment practices liability, fiduciary liability and cyber risk for public corporations, private companies and not-for-profit organizations; professional liability coverage for a range of professionals, including lawyers and design professionals, and management liability, professional liability, property, workers' compensation, auto and general liability for financial institutions. The Bond & Specialty Insurance segment, with the Business and International Insurance segment, makes investments in technology utilizing Internet-based applications to provide real-time interface capabilities with its independent agencies and brokers.
The Company's coverages also 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 writes a range of property and casualty insurance covering individuals' personal risks. Its automobile policies provide 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. In addition, various states require policies to provide first-party personal injury protection, frequently referred to as no-fault coverage. Its homeowners policies provide protection against losses to dwellings and contents from a range 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 writes coverages for umbrella liability, identity fraud and weddings and special events.
Travelers Companies Inc
385 WASHINGTON ST
SAINT PAUL MN 10017
Company Web Links
- BRIEF-Travelers estimates impact of UK Ogden discount rate change
- BRIEF-Travelers sees higher Q1 loss reserves on discount rate change
- Insurer Travelers profit beats as investment earnings rise
- UPDATE 2-Insurer Travelers profit beats as investment earnings rise
- Insurer Travelers profit rises 8.9 pct