Travelers Announces Stay-at-Home Auto Premium Credit Program
Company Release – 4/8/2020 2:35 PM ET
Personal auto insurance customers will receive a 15% credit on April and May auto premiums, expanding the company’s COVID-19 relief efforts
NEW YORK–(BUSINESS WIRE)– The Travelers Companies, Inc. (NYSE: TRV) yesterday announced it is giving U.S. personal auto insurance customers a 15% credit on their April and May premiums through its new Stay-at-Home Auto Premium Credit Program. The company will automatically credit customers’ accounts, providing them with prompt and much needed relief during this time. Travelers will continue to assess the program as more information comes to light about the impact of the COVID-19 crisis on the driving environment and auto claims.
“Our customers are doing their part to stay at home and help stop the spread of COVID-19,” said Alan Schnitzer, Chairman and Chief Executive Officer of Travelers. “Our new program recognizes their contribution to the effort we all need to make to protect our health and safety and the resulting decrease in miles driven and auto claims. We are committed to standing with our customers, agents and brokers, and this is one more step we’re taking to help ease some of the financial burden many are experiencing.”
The company is working with regulators to obtain all the necessary approvals.
Separately, Travelers continues to provide auto coverage for customers across the country whose job responsibilities now include using their personal vehicles to make food, grocery, pharmacy and medical supply deliveries.
The Stay-at-Home Auto Premium Credit Program adds to the company’s COVID-19 response initiatives. Among other things, Travelers is offering billing relief to customers, is accelerating more than $100 million in commission payments to eligible agents and brokers and has pledged $5 million to assist families and communities affected by the COVID-19 pandemic across North America, the United Kingdom and the Republic of Ireland. The company also continues to work with individuals experiencing financial hardships to offer solutions based on their unique circumstances.
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