Press release from Business Wire
Keep Construction Projects on Schedule with Travelers' New Construction PakSM – Builders' Risk
<p class='bwalignc'> <i>Broad Coverage Includes Expertise from Risk Control, Claim and Specialty Investigations Group</i> </p>
Monday, May 20, 2013
Keep Construction Projects on Schedule with Travelers' New Construction PakSM – Builders' Risk08:36 EDT Monday, May 20, 2013
HARTFORD, Conn. (Business Wire) -- To help construction projects of nearly every size and scale stay on schedule, Travelers introduces the new Construction Pak SM – Builders' Risk, an enhanced product which provides broad, tailored coverage in an easy-to-use form.
“Construction today is not like it was a decade or even five years ago,” said Joe Tracy, President, Travelers Inland Marine. “With emerging technologies and new building methodologies, there is a need for proactive coverage, and services that can help keep projects on budget and on schedule. Travelers' new Builders' Risk coverage protects contractors, owners and developers, keeps their projects moving forward and offers peace of mind.”
From standard construction to complex undertakings such as highway projects, stadiums and high-rise buildings, the enhanced Builders' Risk coverage offers flexibility tailored to the unique needs of the customer. New features include an extensive definition of covered property; automatic soft costs coverage with an option to tailor; multiple additional coverage extensions, equipment breakdown coverage including full testing and jurisdictional inspections; green building coverage; and replacement cost valuation.
Travelers Construction Pak – Builders' Risk customers benefit from the construction expertise of dedicated Inland Marine underwriters. In addition, customers have access to the extensive Inland Marine Network. This network includes specialists from Risk Control who provide consultations for both specific projects and ongoing operations, a Claim team that includes Builders' Risk specialists with the knowledge and expertise to adjust and settle complex Builders' Risk claims and the Specialty Investigations Group (SIG) which helps with theft prevention and recovery efforts.
Construction Pak – Builders' Risk is available starting this month. Visit here for more information about Travelers Inland Marine and the new Builders' Risk.
The Travelers Companies, Inc. (NYSE: TRV) is a leading provider of property casualty insurance for auto, home and business. The company's diverse business lines offer its global customers a wide range of coverage sold primarily through independent agents and brokers. A component of the Dow Jones Industrial Average, Travelers has more than 30,000 employees and operations in the United States and selected international markets. The company generated revenues of approximately $26 billion in 2012. For more information, visit www.travelers.com.
The Travelers Companies, Inc.
Daryl Richard, 860-954-0844 (Media)