Travelers News

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, …

Business News: Davies Group, Marsh, Travelers and Hover, Purkeys

London-Based Davies Buys US Claims Shop Davies Group, an international consulting firm based in London, has acquired Frontier Adjusters, a multi-line independent claims adjusting shop headquartered in Independence, Ohio. The purchase marks Davies’ first claims deal in the United States. …

Business News: Travelers, VenAssure, Sedgwick Make Announcements

Travelers Paying Claims with PayPal Travelers has launched a new service that allows auto, property and general liability policyholders to receive claim payments through PayPal. The carries link to PasyPal comes through Global Digital Disbursements, a service provided by Bank …

3rd Circuit: Policy to Limit Extended Transportation Expenses May be Bad Faith

Kyle and Marie Stechert say they rushed to buy another car after their vehicle was “totaled” in an accident because their insurance carrier refused to keep paying for their rental vehicle. The new car was twice as expensive as the …

Travelers Bulks Up Wildfire Protection After Deadly 2018 Blazes

Travelers Cos. is strengthening its wildfire-defense efforts after deadly blazes swept through California last year. The insurer is adding a service to all of its California home and landlord policies, helping customers prepare their property for a fire by different …

North Carolina Schools Reach $10M Insurance Claims Settlement for Tornado Damage

More than a year after a tornado struck, a North Carolina school system says it’s reached a $10 million settlement with its insurance company for damage to three schools. The News & Record of Greensboro reports that officials with Guilford …

Insurers Dabbling with Smart Home Tech, but No Winning Model has Emerged

An instinct for self-preservation has carriers dipping their toes into the smart home technology space, but no U.S. insurer has taken a full plunge so far. The industry hasn’t settled on how it should get devices such as water-leak detectors …

Lyft and Uber Fly to Hawaii to Build Their Own Captive Insurers

Ride-sharing giants Lyft Inc. and Uber Technologies Inc. seem to have found the same solution for dealing with the risks of managing millions of drivers on the road: Creating their own insurers in Hawaii. On Friday, Lyft told potential investors …

Business News: Abra/Caliber, Travelers, Roost

Caliber Collision, Abra Auto Body Repair of America Merger Transaction Closes Caliber Collision Centers and Abra Auto Body Repair of America announced the closing of their merger that unites the companies’ talented teams, brands and operations to better serve customers, …