STOCK TITAN

Travelers’ Wildfire Defense Services Endorsement Now Available to Colorado Customers

Rhea-AI Impact
(Neutral)
Rhea-AI Sentiment
(Neutral)
Tags
Rhea-AI Summary

The Travelers Companies, Inc. (NYSE: TRV) has introduced a Wildfire Defense Services endorsement for its home and landlord policies in Colorado, available at no extra cost. This initiative, a partnership with Wildfire Defense Systems, aims to protect properties during wildfires through preventative measures such as applying fire retardant and relocating combustible materials. Travelers previously offered a similar service in California since 2019. The endorsement seeks to enhance customer value and manage wildfire risks, although WDS cannot guarantee service to all properties in danger.

Positive
  • Introduction of Wildfire Defense Services endorsement at no extra cost.
  • Enhancement of customer value through innovative risk management.
Negative
  • No guarantee that WDS can protect all properties in imminent wildfire danger.

The Travelers Companies, Inc. (NYSE: TRV) today announced it has added a Wildfire Defense Services endorsement to its Colorado home and landlord policies at no extra cost to customers. Agribusiness customers in the state are also eligible.

Through its partnership with Wildfire Defense Systems (WDS), Travelers offers wildfire loss prevention services – including applying non-hazardous and biodegradable fire retardant, relocating combustible material, and taping vents – to help protect properties in the event of an imminent wildfire. Travelers introduced a similar endorsement for customers in California in 2019.

“WDS’s efforts have made a difference for customers in California, and we expect this endorsement will also help to save properties in Colorado,” said Michael Klein, Executive Vice President and President of Personal Insurance at Travelers. “We’re always looking for new ways to help our customers manage the changing risks in their lives, and this is one way we’re providing extra peace of mind while adding significant value to our insurance products.”

WDS, with a mission of increasing a structure’s survivability, performs supplemental preventive protection to insured properties during active wildfire incidents. Once WDS is granted access to an incident by the appropriate authorities, they service as many properties as possible based on safety guidelines and other factors, including available resources, weather conditions, wildfire intensity, and the fire’s proximity. There is no guarantee that WDS will be able to serve all properties that are in imminent wildfire danger.

For more information about the endorsement, visit Travelers.com/WildfireDefense.

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 $32 billion in 2020. For more information, visit Travelers.com.

FAQ

What is the Wildfire Defense Services endorsement for Travelers (TRV)?

The Wildfire Defense Services endorsement is a new feature added to Travelers' home and landlord policies in Colorado, offering wildfire loss prevention services at no extra cost.

When was the Wildfire Defense Services endorsement introduced for TRV customers?

The endorsement was announced recently for Colorado customers, following a similar service introduced for California customers in 2019.

How does the Wildfire Defense Services endorsement protect properties?

It offers services such as applying fire retardant, relocating combustible materials, and taking preventative measures during imminent wildfire threats.

Is the Wildfire Defense Services endorsement available for all TRV policyholders?

It is available at no extra cost to home and landlord policyholders in Colorado, as well as eligible agribusiness customers.

Does the Wildfire Defense Services guarantee protection for all properties?

No, Travelers cannot guarantee that Wildfire Defense Systems will be able to serve all properties in imminent wildfire danger.

The Travelers Companies, Inc.

NYSE:TRV

TRV Rankings

TRV Latest News

TRV Stock Data

54.10B
226.08M
0.24%
85.48%
1.7%
Insurance - Property & Casualty
Fire, Marine & Casualty Insurance
Link
United States of America
SAINT PAUL