When you focus on the future of your business, you can better identify the opportunities – and the risks. Travelers can help keep your business protected with innovative products and services tailored to your company’s needs. Partnering with Travelers for all your business insurance needs can offer you more seamless protection that can minimize coverage gaps, simplify claim service and make it easier to update coverage as your business evolves.
Umbrella and Excess Casualty
Real Estate Professional Liability (REPL)**
Professional Liability
Global
Inland Marine
Manufacturers Errors & Omissions (E&O)
Ocean Marine
Private Directors & Officers Liability (D&O)**
Fiduciary Liability**
Fidelity & Crime**
Equipment Breakdown
Environmental Liability
Employment Practices Liability (EPL)*
Cyber Coverage*
Accountants Professional Liability (APL)**
Design Professional Liability (DPL)**
Lawyers Professional Liability (LPL)**
Miscellaneous Professional Liability (MPL)**
*Coverage options available through Travelers Bond & Specialty Insurance and Travelers Business Owner’s Policy
**Available through Travelers Bond & Specialty Insurance
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A local business hired an accountant to handle its payroll on an outsourced basis. The accountant mistakenly overpaid the client’s sales representative by a significant amount and the sales representative terminated her employment with the client before the error was detected. The client made a claim against the accountant to cover the overpayment.
As a professional operating in today’s increasingly litigious environment, you could easily be subject to allegations by unhappy clients who feel they’ve been harmed by your actions or inactions. Travelers Accountants Professional Liability* coverage helps protect you when lawsuits result from allegations of negligence or errors and omissions related to your professional services.
*Available through Travelers Bond & Specialty Insurance
Travelers Cyber Coverage* can be a crucial safeguard against the devastating financial consequences of such an attack. Travelers offers customized insurance solutions depending on your business’s level of risk, with coverage options available to address forensic investigations, litigation expenses, regulatory defense expenses and fines, crisis management expenses, business interruption, cyber extortion and Betterment.
Anti-malware software, a robust firewall, strong passwords and data encryption – after taking every precaution, a company is shocked to learn that a resourceful hacker has exposed its customer information.
An architect was hired by a contractor to design an office building. After the build was complete, the owner complained to the contractor that there were water intrusion issues. The contractor addressed the occasional leaks with caulking. Seven years later, it was determined by another company that an entire building retrofit was needed.
As a professional operating in today’s increasingly litigious environment, you could easily be subject to allegations by unhappy clients who feel they’ve been harmed by your actions or inactions. Travelers Design Professional Liability* coverage helps protect you when lawsuits result from allegations of negligence or errors and omissions related to your professional services.
An employee files a claim against an employer, alleging their job was terminated without warning following a vacation and subsequent illness. The former employee also stated that their supervisor made inappropriate remarks regarding their health.
It can happen in any industry or in any size business, and while it’s not always easy to anticipate what can trigger a wrongful employment termination claim, it’s important to have the right protection in place. Whether brought by an employee or a government regulator, an employment-related claim can cost a business financially and operationally. Travelers EPL* coverage can provide your business with financial protection for defense and covered settlements, a dedicated claim professional to help navigate an often complex claim, and a local outside attorney.
A company with established safety protocols encounters significant unexpected pollution cleanup and litigation costs after a 500-gallon above-ground chemical tank ruptures and releases its contents on their property, polluting a nearby river.
Whether it’s a chemical leak like this, an unexpected pollution spill or another environmental accident, these types of losses can be expensive and complicated. Travelers Site Pollution Liability insurance can cover pollution cleanup costs, defense costs, and damages for third-party bodily injury or property damage incurred for such an event. Coverage provides access to Risk Control professionals who can help you manage compliance with environmental regulations.
A company’s newly installed HVAC unit suffers a mechanical breakdown during a heatwave.
Electrical short circuits, mechanical forces, control failures – these are just a few of the causes of breakdowns. While a property policy can be broad, it is typically not designed to cover these sudden breakdowns. Coverage can also include the cost to lease temporary replacements. Equipment Breakdown insurance can cover equipment repairs or replacements stemming from breakdowns.
An employee received an email that appeared to be from the company’s CFO requesting a wire transfer to an overseas bank account to complete the acquisition of a small competitor. The email stressed urgency and the need for secrecy. The employee wired $400,000 as instructed. The next day, when the employee called the CFO to confirm an accounting code for the payment, it was discovered that the CFO’s email had been hacked and the request was fraudulent.
Social engineering fraud is costly and happens every day to unsuspecting employees who receive what appears to be a legitimate message from a vendor, client or internal employees. Travelers Fidelity & Crime* coverage can help protect businesses against the devastating financial loss caused by social engineering fraud.
Employees participating in their company’s 401(k) plan sued the plan’s sponsor, investment fiduciary and individual plan fiduciaries alleging that they breached their fiduciary duties under ERISA by allowing the plan to incur excessive recordkeeping and investment fees and by failing to eliminate underperforming investment options.
For many employers, offering an employee benefit plan is a way to attract and retain workers, but this means nothing if your business collapses under staggering litigation costs. Individual fiduciaries can even be held personally liable if they do not carry out their fiduciary obligations. Travelers Fiduciary Liability* coverage responds to claims made against employers, employee benefit plans, board members and employees for breaches of fiduciary duty.
A Colorado-based employee is injured in a car accident eight months into a yearlong assignment in Ireland. Colorado workers compensation is unavailable because the injury occurred outside the state more than six months after the employee left, leaving the organization to cover the injured employee’s medical expenses and compensation.
Travelers Global Companion℠ Plus+ Foreign Voluntary Workers Compensation coverage can respond to events like these. Whether you already operate in other countries, have a building or satellite office located overseas, or travel internationally to attend conferences, we can create customized solutions to provide seamless worldwide coverage in over 100 countries.
While working on a building project, an employee loosely secures a new excavator onto a flatbed to transport it to a nearby job site. A sharp turn causes the equipment to tip over, resulting in considerable damage.
Inland Marine insurance protects assets that are mobile in nature or require unique valuation. This could include shipments, equipment, important documents, computers and the data contained in them, merchandise or components critical to your supply chain. Coverage can also extend to property that’s owned or in your business’s care.
An attorney advises a client to enter into a divorce settlement under which the client is to receive two properties. The attorney fails to conduct a proper title search. After the agreement is signed, it’s discovered the client’s spouse held proper title to only one property, dramatically reducing the value of the divorce settlement. The client brings a lawsuit against the law firm for legal malpractice.
As a professional operating in today’s increasingly litigious environment, you could easily be subject to allegations by unhappy clients who feel they’ve been harmed by your actions or inactions. Travelers Lawyers Professional Liability* coverage helps protect you when lawsuits result from allegations of negligence or errors and omissions related to your professional services.
A manufacturer produces trigger valves for its customer’s pneumatic nail guns. An employee error leads to a product defect discovered by the customer. The manufacturer provides replacement parts, but the customer loses out on an important contract and seeks recovery of lost profits and damages for loss of business.
General liability policies typically cover bodily injury and property damage claims, but don’t provide protection when a customer pursues your company for a financial loss due to lost profits, damages due to business interruption or an inability to fulfill contractual promises to their customers. Travelers Manufacturers E&O* coverage is designed to address these financial loss exposures.
*Coverage is available to mid- and large-sized businesses
A store retains a marketing consultant to assist in creating a new website and annual sale ads by a specific date. The consultant completes the materials but fails to send out the email announcing the new website and sale in a timely fashion. The store owner sends a demand letter for reimbursement of the lost business.
As a professional operating in today’s increasingly litigious environment, you could easily be subject to allegations by unhappy clients who feel they’ve been harmed by your actions or inactions. Travelers MPL* provides coverage for economic damages and for negligence in the performance of services where a reasonable standard of care is expected. Travelers MPL is designed for a wide range of professionals – executive recruiters, graphic designers, translators and many others.
A supplier makes a large sale to an overseas customer. The shipment sustains substantial water damage en route, but the damage isn’t discovered until nearly a month later.
Ocean Marine coverage offsets exposures like these with a portfolio of marine coverages for businesses involved in international trade and companies providing marine transportation services. If you’re buying or selling goods overseas, this coverage is designed to protect you when cargo is damaged. And, should a delay occur in opening any packages, Travelers offers coverage for loss or damage discovered after it has arrived at its final destination.
A consumer products company attracted four employees from a larger competitor. The consumer products company soon began selling products similar to their rivals – but at a lower price – prompting the larger competitor to sue the directors and officers of the consumer products company for stealing trade secrets and customer lists. After two and a half years of legal battles, the case was settled for millions.
Privately held organizations and the people who lead them are vulnerable to a multitude of D&O exposures. Travelers Private Directors & Officers* coverage responds when claims are asserted against the company or its directors, officers or employees for actual or alleged wrongful acts, helping protect company assets and personal assets, as well as mitigating opportunity costs of lengthy and costly litigation.
Prior to the sale of a property, the seller’s agent received a call from a neighbor complaining that a waste dump on the subject property was damaging their property. Although the seller’s agent provided this information to the buyer’s agent, the buyer alleges they never received this information prior to closing. The buyer brings a claim against the seller’s agent for failing to advise them of the waste dump.
As a professional operating in today’s increasingly litigious environment, you could easily be subject to allegations by unhappy clients who feel they’ve been harmed by your actions or inactions. Travelers Real Estate Professional Liability* coverage helps protect you when lawsuits result from allegations of negligence or errors and omissions related to your professional services.
A visitor to your property falls and suffers severe injuries. A product you manufacture malfunctions and injures the user. An employee gets in an accident in a rented vehicle, injuring another driver and damaging both vehicles. Depending on the outcomes of these types of events, your business could be held liable for substantial damages.
Travelers Excess Follow-Form and Umbrella Liability coverage provides an extra layer of protection above the limits of your primary policy. Under this policy, coverage for crisis management service expenses is included at no additional cost, and claim professionals dedicated exclusively to managing catastrophic claims work closely with you for swift resolution.
