Canadian Underwriter

News Claims

Why Travelers is confident it does not have to cover many COVID-19 business interruption losses

July 28, 2020 by Greg Meckbach

The Travelers Companies Inc. will have to spend money defending itself in business interruption coverage lawsuits arising from the pandemic, but officials with the New York City-based insurer do not expect it will actually have to pay out on many

News Insurance

Why it’s difficult for insurers to forecast future COVID-related losses

July 27, 2020 by Greg Meckbach

Commercial insured losses caused by the ongoing pandemic cost The Travelers Companies Inc. more than $100 million during the three months ending June 30, but it’s difficult to predict how much more it will cost the insurer in the long

News ClaimsClaims CanadaInsuranceLegal

How Travelers won appeal over Ontario accident benefits dispute

June 17, 2020 by Greg Meckbach

When an Ontario woman was catastrophically injured in an accident in a Nunavut-plated vehicle in Nunavut, that vehicle’s insurer was initially told it had to pay Ontario accident benefits to the claimant. But in Travelers Insurance Company of Canada v.

News InsuranceRiskTechnology

How Travelers advises clients to mitigate auto risk

August 23, 2019 by Greg Meckbach

Do your commercial clients have a strict policy of not calling employees while they are driving? Many drivers who are distracted are actually workers who are travelling on behalf of their employers during the day, Ontario Provincial Police Sergeant Gord

News InsuranceMergers and Aqcuisitions

Major insurer ‘actively’ looking at insurance risk linked to M&A in Canada

January 21, 2019 by Greg Meckbach

Commercial brokers advising Canadian clients involved in mergers and acquisitions could soon have another market to which they could place transactional risk. The Travelers Companies Inc. announced Jan. 15 it plans to offer transactional risk insurance in the United States.

News ClaimsLegalLegislation / Regulation

Priority dispute can proceed in mechanic test-drive case

November 15, 2018 by Greg Meckbach

Canada’s highest court announced Thursday it will not hear a dispute arising from a vehicle repairman who got hurt while test-driving a customer’s car. The dispute is over a provision in Ontario Regulation 283/95 that sets out rules for auto

News ClaimsEarnings / RatingsInsurance

Root cause of commercial auto woes hard to pinpoint: Insurer CEO

October 25, 2018 by Greg Meckbach

Commercial auto losses have been worse than expected for The Travelers Companies Inc., and company officials are not exactly sure why. “It’s a line that has been challenged from a profitability perspective for a while,” Travelers chairman and CEO Alan

News CatastrophesClaimsRisk

This storm preparation tip is a myth

September 12, 2018 by Greg Meckbach

As Newfoundland gets hit by the remnants of Tropical Storm Gordon and Hurricane Florence threatens the Carolinas, brokers can make a difference in advising homeowners what not to do as nasty weather approaches. “In Canada, there are not many hurricane-type

News BrokersTechnology

What four insurers say about IBAC Data Exchange

August 13, 2018 by Greg Meckbach

Reducing the workload for human beings is one reason some insurance carriers are participating in part of the Insurance Brokers Association of Canada’s Data Exchange project. “We are constantly looking for ways to eliminate manual processes, to eliminate administrative functions,

News Earnings / Ratings

Non-cat weather losses push up Travelers’ Q3 combined ratio

October 24, 2016 by Canadian Underwriter

The Travelers Companies Inc. recently reported its third-quarter combined ratio deteriorated by six points while Q3 net premiums written were up 3% year over year. New York City-based Travelers reported Oct. 20 its financial results for the period ending Sept.

News CatastrophesEarnings / RatingsInsurance

Q2 catastrophe losses up 50.6% for Travelers after hail, wildfires

July 21, 2016 by Canadian Underwriter

The Travelers Companies Inc. reported Thursday its combined ratio deteriorated 2.3 points, it renewed July 1 a property catastrophe reinsurance contract for Canada covering losses between $200 and $600 million (plus 50% of losses over $100 million), and that it