Posted on 10 Aug 2010
Travelers has announced two new management liability product suites that offer agents and customers the ability to streamline and customize coverage through a flexible, modular policy with common language, terms and conditions. These two new suites of coverage, Executive Choice+SM for Public Companies and SelectOne+SM for Large Financial Institutions, join the newly enhanced Wrap+(R) for Private & Non-Profit Organizations.
Travelers' policy suites offer the protection customers need today and provide flexible policy options for additional coverage as an insured's business or organization grows and new exposures emerge. Consistent language, terms and conditions within these enhanced policies help to effectively minimize gaps in coverage.
"Travelers' new and enhanced policies respond to today's existing and emerging exposures," said Wayne Andersen, Chief Underwriting Officer, Management Liability, for Travelers Bond & Financial Products.
"By streamlining coverage enhancements, previously available by endorsement only, into one flexible policy, Travelers is making it easier for brokers and agents to provide customers with the state-of-the-art protection they need."
Executive Choice+ for Public Companies, SelectOne+ for Large Financial Institutions and Wrap+ for Private & Non-Profit Organizations each offer multiple enhanced coverage features in a single policy suite including directors & officers liability, employment practices liability, fiduciary liability, miscellaneous professional liability, private partnership liability, crime, kidnap and ransom, and identity fraud expense reimbursement.
Customers insured under these policies also benefit from access to Travelers Risk Management PLUS+ Online, available at no additional cost. This one-stop resource offers risk management tools that support the entire suite of coverages offered and help insureds mitigate exposures. The website offers risk management articles, free online training for managers, day-to-day management tips and information on key industry trends to help customers protect themselves.
Travelers' Executive Choice+ for Public Companies, SelectOne+ for Large Financial Institutions and the enhanced Wrap+ for Private & Non-Profit Organizations will be available via electronic policy delivery for new customers beginning August 15, 2010, and for existing customers with renewals effective September 15, 2010, pending state approvals.