Travelers Construction Expands eQuote System to Include Railroad Protective Liability Coverage
31 Mar 2008 |
Admin
Expanded eQuote System Provides ''24/7'' Access to Quote and Bind Coverage
HARTFORD, Conn.--(BUSINESS WIRE)--April 1, 2008--Travelers (NYSE: TRV) Construction today expanded its eQuote system to include Railroad Protective Liability coverage (RRP). Designed with the Travelers Independent Agent network in mind, the addition of Travelers Construction's RRP to the eQuote system allows agents to quote, bind, obtain a policy number and print a proposal for most jobs. For jobs that require additional underwriting review, the quote will generally be delivered within 24 hours. The eQuote system also allows Travelers agents to quote RRP coverage for construction companies whose general liability coverage is written with a carrier other than Travelers.
"Adding Railroad Protective Liability coverage to the eQuote system is an obvious next step for Travelers Construction, as we look to streamline the quoting and binding process for our independent agents," said Todd Bateson, president, Travelers Construction. "There is a strong demand placed on the independent agent to quickly respond to requests for such specialized coverage and we are excited to add ways to help our agents be more responsive to their customers."
Travelers' dedicated OCP/RRP Unit has specialized Railroad Protective underwriting knowledge that can be put to work for construction contractors who need to provide this coverage. Travelers Construction's RRP is provided on an admitted-market basis on a form accepted by the Railroad Insurance Management Association. Commonly requested limits are $2 million per occurrence / $6 million aggregate, though other limits of liability are available subject to underwriting review and approval. The underwriting requirements include:
* Construction operation anticipated for the project
* Contract cost and cost of the project within 50 feet of a railroad
* Contractor's limits equal to or greater than the requested railroad protective limits
For more information, contact the Travelers OCP/RRP unit at 732.494.3800 or visit Travelers' online agent portal. The agent portal is password-protected and offers printable forms and instructions. Visit travelers.com and select "Agents & Brokers" to begin the process.
About Travelers
Travelers understands that life and business are inherently dynamic and that the best way to serve agents, brokers and policyholders is to deliver insurance that evolves to stay in-synch with life and business as they change. For more information on being in-synch, visit www.travelers.com.
The Travelers Companies, Inc. (NYSE: TRV) is a leading property casualty insurer selling primarily through independent agents and brokers. The company's diverse business lines offer its global customers a wide range of coverage in both the personal and commercial settings, including automobile, homeowners, construction, small business, oil and gas, ocean marine, surety and management liability, global technology and public sector services. Travelers is a Fortune 100 company, with 2007 revenues of $26 billion and total assets of $115 billion. The company has approximately 33,000 employees.