Travelers Current Rates, News & Information

Travelers Insurance Offering 35% Discounts on Storm Proof Homes

Posted in Travelers

November 15th, 2009
No Comments

Atlantic and Gulf Coast states could see a huge discount on home insurance rates from Travelers Co, based in Hartford. If you have a storm proof home, one that is resistant to the wind and weather and up to the insurer’s standards, you could benefit from up to 35% off your homeowners insurance premiums.

Storm Proof Discount Aimed at New Home Owners

This is a new pilot program being launched and details are not yet available for individual states, but it’s a good sign. The premium discount would only apply to new homes as that is the target demographic for the new plan. However, owners of older homes who update their houses to meet current hurricane-resistant standards may also qualify.

U.S. Coastal Zones Seeking Stable Hurricane Insurance Rates

Posted in Home Insurance , Hurricane Insurance , Travelers

August 25th, 2009
No Comments

Travelers Companies Inc. is leading a number of companies representing eastern coastal states in the pursuit of hurricane home insurance coverage rate regulations. The hope is that with the addition of rate regulations, both homeowners and insurers can breathe a financial sigh of relief as the states try to manage the home insurance crisis that is battering budgets as destructively as hurricanes have battered coastlines. It seems as though no one is able to find affordable home insurance rates.

Toward the end of July, Travelers issued a formal white paper asking for an independent federal commission to regulate rates for hurricane coverage. The report was distributed at the Southeastern Commissioners’ Conference, “Catastrophe Preparedness & Insurance Forum” in Biloxi, Miss. Travelers president and COO, Brian MacLean, hoped that his white paper would effectively move the authority for such regulation from the state level to one that would allow thefour U.S. coastal zones, reaching from Maine to Texas, to be overseen federally. This, he believes, could create a more stable market for insurance and homeowners.

Mississippi Gov. Haley Barbour was one of several officials the plan that was presented to at the conference. Barbour was noted as saying that the probability of receiving help at the federal level is slim to none. This means that regional efforts would likely have to be made to help regulate insurance along the coastal states. He feels just as strongly as MacLean that something needs to be done sooner than later. Unfortunately, the solution may not come as soon as they hope.

Travelers Insurance to Pay Out $440 Million in Settlement Claims

Posted in Travelers

June 24th, 2009
No Comments

After years of court proceedings, Travelers Insurance will finally be able to pay out the $440 million settlement money owed to those involved in a class action lawsuit forasbestos-related claims. Chicago based law group,Goldberg Kohn, proclaimed victory as the recent Supreme Court ruling upholds a 1986 ruling against theJohns-Manville Corp and protects Travelers Companies Inc from any new asbestos claims regarding the corporation.

In the past, Johns-Manville Corp filed for bankruptcy andthe settlement had originally been approved in the Bankruptcy Court and District Court. However, the Second Circuit Court of Appeals over-turned the original verdict and the recent victory upholds the original decision of the Courts and protects Travelers from any other claims directly associated withtheJohns-Manville Corp and asbestos.

Only time will tell how this ruling affects the amount policyholders will need to dole out for their Travelers insurance rates. However, since Travelers insurance has been assured that they are not responsible for future lawsuits in conjunction with this situation, the current rates may remain status quo.

Travelers Insurance for Federal Oversight

Posted in Health Care , Travelers

June 23rd, 2009
No Comments

The Travelers Insurance group is only one of a small handful of insurance organizations supporting President Obama’s intitiative tocreate a U.S. insurance office. The creation of this organization is in direct response to the recent bailout of AIG and would change the balance of power from the state to the federal level. The goal is for the government to gain more control over regulating a system that as history has now proved, can have a devastating effect on the rest of the economy.

For national insurance companies like Travelers, the federal regulation could help streamline the system. Large insurance companies tend to have a variety of branches in each state and each branch has its own set of rules. With federal oversight the individual offices would be forced to communicate with each other on a regular basis, not just when tragedy ensues, which could mean a step in the right direction towards reforming health care in the US.

If these changes are to take effect, it would take quite some time to implement. For now, those with Travelers insurance can expect the company to maintain the status quo. Their Travelers insurance rates will be following normal trends until any revision to the current system occurs.

How Travelers Insurance is Faring on the Dow Jones

Posted in Travelers

June 23rd, 2009
No Comments

In a bold move to strengthen the economy this June, The Travelers Companies was admitted to the Dow Jones Industrial Average. The addition of Travelers, who generated $25 billion in sales last year, was done to diversify the holdings of the index. Travelers helped fill some of the void createdby Citibank’s removal from the index this year and the gaping hole left behind fromlast year’s AIG dismissal.

Even though Travelers is a distinguished provider of casualty and property insurance, it’s performance in the market is a mixed bag. At this point experts cannot determine the future for the Dow’s most recent addition as the first indicators where very promising, but now the results are somewhat lagging. It could be that investors are wary of Travelers addition to the roster as the company represents there-cooperating American financial sector.

Traveler’s performance on the Dow should be no indicator for the Traveler insurance rates policy holders will be charged. Factors such as property value, benefit size, location and other statistical information are the greater determinants for rate information.

Travelers Insurance Company History

Posted in Health Insurance , Travelers

June 23rd, 2009
2 Comments

For over 150 years, Travelers Insurance has been providing insurance to the throngs of Americans in need. The organization first started as the “St. Paul Fire & Marine Insurance Company” in 1853, and 11 years later evolved into theThe Travelers Insurance Company with one goal:”for the purpose of insuring travelers against loss of life or personal injury while journeying by railway or steamboat.”

As times changed, so did the types of coverage and the technologies utilized by the Travelers Companies Insurance. One example of the Travelers group initiatives is during the aftermath of Hurricane Andrew, the organization developed the insurance industries first mobile response claims office. Travelers would drive to a town devastated by a catastrophe and process the claims of their policy holders from the traveling office. This service is still in effect and is complimentary to policy holders who have paid their Travelers insurance rates in a timely manner.

For more of the best insurance rates, including Travelers health insurance rates, please visit Go Insurance Rates often as premium rates change daily.