»»Insurance for Business Travel: “Travelers” Launches International Coverage Extensions

Leading property casualty insurer Travelers announced the launch of its International Coverage Extensions for Commercial Accounts, Travelers mid-sized business customers.
The new coverage extensions provide liability protection for worldwide situations resulting from U.S. exported products or temporary business travel outside the U.S. and Canada, as well as coverage for business personal property located abroad.

The International Coverage Extensions are designed for accounts with incidental global exposures and offer a truly globalized policy by extending protection beyond the domestic coverage territory. For Commercial Accounts customers who need additional protection worldwide beyond incidental exposures, Travelers offers two industry leading, global insurance options with its Global Companionsm and Controlled Master Program policies.

“At Travelers, we understand that each of our Commercial Accounts customers have unique risks that include a wide variety of exposures,” said Michael Klein, President, Travelers Commercial Accounts. “With the addition of the International Coverage Extensions into most of our Travelers domestic Commercial Accounts policies, we can offer our customers truly globalized policies – something that most other commercial carriers cannot provide.”

“As globalization continues to spread, so does the realization that there are risks not covered by typical domestic insurance policies,” said Jon Farber, President, Travelers Global Underwriting. “The addition of the International Coverage Extensions to our existing stand-alone Global Companion and Controlled Master Program products uniquely positions Travelers to address the international needs of all companies, no matter its size or global complexity.”

Travelers International Coverage Extensions include:
– General liability protection for foreign lawsuits arising out of U.S. exported products
– Business personal property coverage for property in transit or located abroad
– Auto liability protection for foreign lawsuits arising out of covered autos hired on a short-term basis
– Coverage of transportation expenses for medical evacuation and repatriation of sick or injured employees
– Global executive support services (personal, travel and medical assistance services).

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