Press Release Details

HARTFORD, Conn.--(BUSINESS WIRE)--

Travelers today announced the availability of a stand-alone business owners employment liability policy for small businesses. This new product provides both employment practices liability coverage for small business owners and identity fraud expense reimbursement coverage for employees of small businesses.

Last year, there were more than 75,000 charges of discrimination filed with the Equal Employment Opportunity Commission(a). Travelers Business Owners Employment Liability+(SM) Policy provides coverage for the cost of damages and defense expenses for lawsuits that result from wrongful employment practice claims made against a company or its employees. Wrongful employment practices include allegations of discrimination, wrongful termination, sexual harassment, retaliation and others occurring in the employment context. Small businesses can acquire reasonable coverage amounts to protect themselves from the risks of employment liability and identity theft at an affordable price.

In addition, customers purchasing the Business Owners Employment Liability+ Policy will have full access to Travelers' risk management tool designed to help businesses decrease their exposure to employment suits -- Risk Management PLUS+ Online(R). This tool provides customers with access to resources that the typical small business does not have in-house, including a free employment practices attorney hotline, model employment policies and forms, and Web-based workplace training on employment issues. "With employment-related claims on the rise, small business owners need to protect themselves from the risks and sizable legal fees that these lawsuits can bring," said Marc Schmittlein, president of Travelers Select Accounts. "Our Business Owners Employment Liability+ Policy provides the coverage and access to value-added tools that are in-synch with the needs of today's small business customers."

Another valuable component of this policy, Identity Fraud Expense Reimbursement Coverage, provides protection to employees who are victims of identity theft. The coverage reimburses employees for expenses incurred in restoring their identity. These include but are not limited to lost wages, daycare and eldercare expenses and credit application fees.

"Identity theft continues to be a significant crime affecting more and more people each year," said Tom Kunkel, president of Travelers Bond & Financial Products. "This policy will help employees at small businesses with the expenses of restoring their identity. Also, for additional peace of mind, Travelers' team of identity theft experts is available to provide victims with information on how to resolve their credit problems."

This coverage is not yet available in every state. Consult with your Travelers Underwriter to determine if the product is available in your state.

About Travelers

Travelers understands that life and business are inherently dynamic and that the best way to serve agents 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, bond and financial products, global technology and public sector services. Travelers is a Fortune 100 company, with 2006 revenues of $25.09 billion and total assets of $113.76 billion. The company has approximately 33,000 employees.

(a)The United States Equal Employment Opportunity Commission - http://eeoc.gov/stats/charges.html

This material does not amend, or otherwise affect, the provisions or coverages of any insurance policy or bond issued by Travelers. It is not a representation that coverage does or does not exist for any particular claim or loss under any such policy or bond. Coverage depends on the facts and circumstances involved in the claim or loss, all applicable policy or bond provisions, and any applicable law. Availability of coverage referenced in this document can depend on underwriting qualifications and state regulations.

Source: The Travelers Companies, Inc.