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Travelers announced today the launch of a new online cargo special
policy system that simplifies the process of communicating policy terms
and conditions to overseas customers.
Special policies provide negotiable evidence of insurance and are often
required in international trade transactions. The new online system
ensures that the special policy terms mirror the terms in the customer’s
cargo policy.
“When a cargo shipment suffers a loss
overseas, the customer needs certainty about the insuring terms and
conditions that apply to that shipment. The special policy also gives
the customer the appropriate information to file a claim –
and that is critical in today’s complex
international trade environment,” said Scott
Beebe, Ocean Marine cargo practice leader for Travelers.
Customers, agents and freight forwarders will have immediate and
worldwide access to the issuance of ocean cargo special policies. In
addition to customized insuring conditions for complex accounts, the new
online system’s features and benefits include:
Faster approval of shipments to restricted areas through an automatic
review process for Office of Foreign Asset Control (OFAC) regulations;
An improved tracking of shipments through a “void”
option; and
A feature that allows previously issued special policies to be copied
and modified for subsequent shipments.
Travelers’ new ocean cargo special policy
issuance system can be accessed at www.travelers.com/oceanmarine/cargocerts.
To facilitate the transition to the new system, the prior system will be
available until February 2, 2007. After that date, documents issued in
the prior system can be viewed in the new system.
About Travelers
Travelers believes that life and business are inherently dynamic and
that the best way to serve agents and policyholders is to provide
insurance that helps them stay in-synch with their lives. For more
information on being in-synch, visit www.travelers.com.
Travelers is a business of The St. Paul Travelers Companies, Inc.
(NYSE:STA), a leading property casualty insurer selling primarily
through 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, financial and professional services, global technology and
public sector services. St. Paul Travelers is ranked 85 in the Fortune
500, with 2005 revenues of $24.4 billion and total assets of $113.2
billion. The company has approximately 32,000 employees.