Press Release Details

NEW ORLEANS--(BUSINESS WIRE)--

To better protect businesses in the marine industry from insurance coverage gaps, The Travelers Companies, Inc. (NYSE:TRV) today introduced Bumbershoot Plus(SM), an enhanced excess liability policy that acts as an umbrella over both marine and non-marine underlying policies. In contrast, a typical commercial umbrella would exclude marine risks.

Bumbershoot Plus(SM) replaces the standard indemnity feature with "pay on behalf of" coverage for the policyholder's liabilities. This increased cash flow protection means a policyholder doesn't have to fully fund a liability before submitting a claim to their insurance company.

Some of the key enhancements of the Bumbershoot Plus(SM) policy include:

    --  Automatic "following form" coverage for additional insureds
        that are added to scheduled underlying policies;

    --  Expanded property damage liability includes "loss of use,"
        whether or not the property is physically injured; and

    --  Expanded personal and advertising injury coverage applies even
        in the absence of underlying coverage.

"As marine industry practices evolve, insurance protection must evolve, too. With innovative features designed to protect cash flow and avoid coverage gaps, worldwide coverage and up to $25 million in limits, Bumbershoot Plus(SM) meets today's needs for comprehensive excess liability protection," said Christopher Cooke, marine liabilities practice leader at Travelers.

For policyholders that already carry umbrella coverage for their non-marine exposures, Travelers offers an extensive array of monoline primary and excess marine liability products, such as Marina Operators, Terminal Operators, Wharfingers, Charterers, Ship Repairers and Marine General Liability. Travelers Ocean Marine also has a dedicated business unit that can provide property and casualty coverage for non-marine exposures.

Bumbershoot Plus(SM) coverage is available through agents and brokers appointed with Travelers for Marine and/or Commercial Lines business.

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.

Source: The Travelers Companies, Inc.