Travelers News

As Criminals Innovate, ATM Thefts Becoming a Growing Source of Insurer Loss

Convicted bank robber Willie Sutton, when asked why he robbed banks, famously said, “because that’s where the money is.” In today’s socially distanced world, criminals increasingly are turning their attention to the money inside automated teller machines — whether outside …

Insurer Travelers’ Profit Beats Estimates on Investment Gains, Fewer Claims

Property and casualty insurer Travelers Cos Inc reported a jump in quarterly profit that beat analysts’ estimates on Thursday, helped by an increase in returns from investments and lower catastrophe claims. Travelers reported a core income of $1.26 billion, or …

Catch-All Travel Insurance Booms as U.S. Flyers Take Thanksgiving Risks

U.S. websites have seen a surge in travelers seeking expensive ironclad insurance this Thanksgiving, as Americans desperate to break the monotony of a year spent at home look to cover themselves against coronavirus-related risks. Data from insurance comparison website Squaremouth …

Travelers Profit Rises With Higher Premiums, Lower Costs

Oct 20 — Property and casualty insurer Travelers Companies Inc beat third-quarter profit expectations on Tuesday, helped by higher premiums, lower costs and an increase in returns from non-fixed income investments. The New York-based company, seen as a bellwether for …

Travelers Posts Second-Quarter Loss, Walloped By Severe Storms, Civil Unrest

Property and casualty insurer Travelers Cos Inc reported a second-quarter loss on Thursday, hurt by a sharp increase in catastrophe losses and dismal returns on non-fixed income investments in pandemic-hit financial markets. Travelers reported a net loss of $40 million, …

Travelers Sees Rising Claims as Coronavirus Crisis Spreads

Property and casualty insurer Travelers Cos. Inc. reported a 25% drop in quarterly profit on Tuesday and warned that potential claims tied to compensation coverage for furloughed and laid-off employees would hit results for the year. The coronavirus pandemic has …

Travelers Sets Aside ‘Modest’ Funds for Child Sex-Abuse Claims

Travelers Companies Inc has set aside a “modest” amount of additional money to cover its possible exposure to child sex-abuse claims, the insurer’s finance chief, Daniel Frey, told analysts during an earnings call on Thursday. Two analysts asked about Travelers’ …

Technology’s Promise and Drawbacks Among Top Claims Stories for 2019

Technology — both its promise and its alleged abuse — was a key component of the most important news stories for claims professionals in 2019. Several insurers introduced new technical innovations to their claims processes during the year. At the …

Travelers Profit Misses on Higher Reserves for Claims

Insurer Travelers Cos Inc reported a lower-than-expected quarterly profit on Tuesday as it bolstered its reserves to cover asbestos-related and other claims, sending its shares down nearly 4% in trading before the bell. The insurer said it set aside an …

Carriers Demonstrate Insuretech Innovations that Simplify Adjusting

LAS VEGAS — The theme on the opening day of the InsureTech Connect conference was that the insurance industry is in dire need of disruption. On Wednesday, the conversation turned toward the digital transformation that has already begun. Patrick Gee, …