Travelers Risk Management Tools Help Auto Dealers In Tough Economic Times

Responding to the economic challenges facing franchised auto and truck dealers, Travelers (NYSE: TRV) is providing risk analysis to new customers and ongoing risk management tools to its existing customers to help them better protect their businesses. In these uncertain times, Travelers and its network of independent agents are reminding auto dealers why risk mitigating strategies and the right insurance program are imperative to the success of their dealership.

“During this period of economic turmoil, it’s more important than ever that auto dealers have the right coverage and implement the appropriate risk management techniques to protect their businesses,” said Dave Stevenson, head of Travelers Auto Dealers Industry Segment. “Travelers independent agents can also help customers to ensure that their current coverage is in-synch with their changing needs.”

Auto dealerships have numerous exposures to financial loss. In today’s economic climate, it is imperative that auto dealers take the extra precautions to mitigate risk, including:

  • Increasing awareness of the recently issued Red Flags Rule – a new FTC regulation regarding the management of confidential customer data and theft prevention programs;
  • Enhancing security controls to prevent the theft of high value vehicles and components, such as catalytic converters - targeted for their rare metals;
  • Observing new regulations when servicing vehicles powered by alternative fuel sources.

Travelers IndustryEdge® product for Franchised Auto and Truck dealers, including TravSourcesSM for Auto Dealerships, a collection of more than 100 technical safety bulletins, guides, checklists and training materials, will help customers be better positioned to handle the challenges that come with managing an auto dealership. In addition, Travelers auto dealer customers have access to Travelers Claim department, consisting of more than 13,000 skilled professionals devoted to managing claims.

Travelers Commercial Accounts, through its professional network of independent agents and brokers, offers auto dealers specialized underwriting and industry-specific coverages to match their unique exposures, risk management tools and services aimed at minimizing risk and preventing loss, and a claim staff with the industry expertise needed to evaluate, defend and resolve claims. For more information on the IndustryEdge product for Auto Dealers, contact Dave Stevenson at 860.277.2104.

About Travelers

The Travelers Companies, Inc. (NYSE: TRV) is a leading property casualty insurer selling primarily through independent agents and brokers. Travelers understands that life and business are inherently dynamic and that the best way to serve customers is to deliver insurance in-synch with evolving risks. The company’s diverse business lines offer its global customers a wide range of coverage in the auto, home and business settings. Travelers is a Fortune 100 company, with 2007 revenues of approximately $26 billion. The company has more than 33,000 employees. For more information on being in-synch, visit www.travelers.com.

The content of this release is only for the informational use of the reader. In no event will Travelers or any of its affiliates be liable in contract or in tort to anyone who has access to this information for the accuracy or completeness of the information relied upon in the preparation of this release. Additionally, information contained herein does not constitute and shall not be construed to reflect the adoption of any coverage position by Travelers or any of its affiliates in connection with any of the topics or considerations set forth herein.

Contacts:

The Travelers Companies, Inc.
Media:
Jeffrey Weir, 860-277-8692

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