Travelers Introduces Global Companion℠ Plus+
The Travelers Companies, Inc. (NYSE: TRV) has launched Global Companion Plus+, enhancing its property and casualty offerings for U.S. firms with foreign exposures. Key features include Primary Foreign Voluntary Workers Compensation, a separate $1 million Financial Interest limit for foreign subsidiary losses, Global Panel Counsel Service for legal assistance abroad, and Emergency Evacuation Coverage for various crises. This updated product aims to fill significant coverage gaps for businesses with international operations.
- Launch of Global Companion Plus+, enhancing coverage for U.S. firms with foreign exposures.
- Key features include comprehensive employee protection, additional financial limits, and legal assistance abroad.
- Emergency evacuation coverage includes new considerations like natural disasters and political unrest.
- None.
HARTFORD, Conn.--(BUSINESS WIRE)--The Travelers Companies, Inc. (NYSE: TRV) today announced the launch of Global Companion Plus+. This new product builds upon the company’s broad property and casualty offerings for U.S. firms with foreign exposures.
Features of Global Companion Plus+ include:
- Primary Foreign Voluntary Workers Compensation: Protects employees who are working outside of their home countries.
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Financial Interest: Provides a separate
$1 million limit for U.S.-based companies as an extra layer of protection when an eligible foreign subsidiary suffers a covered loss.
- Global Panel Counsel Service: Helps businesses in need of legal assistance abroad find in-country representation experienced in local regulations and languages.
- Emergency Evacuation Coverage: Offsets the cost of employees who must evacuate while abroad. This now includes coverage for natural disasters, political unrest and endemic disease.
“Even if a business does not have a physical foreign footprint, having international customers, worldwide vendors or employees who occasionally travel to different countries could create exposures that may not be covered by a typical domestic business insurance policy,” said Tony Giannone, Vice President of the Multinational Accounts Practice at Travelers. “We have updated our Global Companion Plus+ product to include a more robust offering that fills coverage gaps for our customers who could experience claims or lawsuits outside of the U.S.”
Travelers provides global coverage in conjunction with its strategic alliances in the International Network of Insurance (INI), which includes major international insurance companies from more than 150 countries. As the INI’s exclusive U.S. insurer, Travelers is able to offer customers access to experts around the world who have a deep understanding of local laws, regulations, customs and services, including specialized local claim professionals coordinated through Travelers’ Global Claim team.
To learn more about Global Companion Plus+, contact your insurance agent or broker, or visit Travelers.com/GlobalSolutions.
About Travelers
The Travelers Companies, Inc. (NYSE: TRV) is a leading provider of property casualty insurance for auto, home and business. A component of the Dow Jones Industrial Average, Travelers has approximately 30,000 employees and generated revenues of approximately
