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Travelers announced today that it has joined with buySAFE and its other
financial institution partners to provide greater security to online
shoppers. Consumers who purchase online products with the buySAFE seal
are protected by surety bonds that guarantee each bonded transaction for
its full value – up to $25,000.
As more people shop online, fraud and poor experiences increase. Among
the thousands of consumer fraud complaints the Federal Trade Commission
(FTC) receives every year, those dealing with online auction fraud
consistently rank near the top of the list. Online buyers need to know
which merchants or sellers they can trust. The combination of Travelers’
trusted name and financial stability with buySAFE’s
unique and comprehensive risk management approach brings confidence to
these buyers, as well as higher sales revenue and transaction security
for the merchants. The buySAFE seal indicates that an online seller has
been financially pre-qualified and rigorously investigated, and that the
seller’s sales activity and online reputation
will continue to be monitored.
“We’re very pleased
to join buySAFE in guaranteeing online transactions from bonded sellers,
and in furthering mitigation of the risks associated with online
shopping,” said George Thompson, Senior Vice
President of Bond – Commercial Surety. “With
this partnership, Travelers continues its tradition of delivering
progressive insurance and surety solutions to the marketplace that will
also fortify protection for its customers“.
Arriving in time for the holidays, this new pairing - that offers
greater security for e-commerce transactions - can raise the comfort
level of consumers who purchase from buySAFE Merchants. Online shoppers
gain the confidence that all terms and conditions of the sale will be
met.
“With a strong partner such as Travelers,
buySAFE continues to pursue its mission - to make every online
transaction reliable, trusted and virtually risk-free,”
said Jeff Grass, buySAFE’s CEO. “Online
shopping is moving into new territory, accelerated by search engines and
comparison shopping sites. As these new sales streams develop, we’re
pleased to add the strength of this leading surety bond provider as we
grow.”
About buySAFE
buySAFE, Inc. helps to create a safe and stress-free online shopping
environment. buySAFE qualifies merchants, identifies reputable online
businesses with the buySAFE Seal, and uses surety bonds to provide broad
protection for individual buyers from online transaction risks. buySAFE
has issued more than 9,000,000 surety bonds on individual online
purchases. buySAFE also benefits online merchants by increasing trust
and confidence with their shoppers, thereby increasing profit
opportunities. There are currently more than two million items bonded
with buySAFE that can be found at www.buysafeshopping.com.
buySAFE is headquartered in Arlington, Virginia. More information can be
found at www.buysafe.com.
About Travelers
Travelers understands that life and business are inherently dynamic and
that the best way to serve agents and policyholders is to deliver
insurance that evolves to stay in-synch with life and business as they
change. 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 independent 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.
For more information about this offering, visit us online at www.travelersbond.com.
Travelers announced today that it has joined with buySAFE and its
other financial institution partners to provide greater security to
online shoppers. Consumers who purchase online products with the
buySAFE seal are protected by surety bonds that guarantee each bonded
transaction for its full value - up to $25,000.
As more people shop online, fraud and poor experiences increase.
Among the thousands of consumer fraud complaints the Federal Trade
Commission (FTC) receives every year, those dealing with online
auction fraud consistently rank near the top of the list. Online
buyers need to know which merchants or sellers they can trust. The
combination of Travelers' trusted name and financial stability with
buySAFE's unique and comprehensive risk management approach brings
confidence to these buyers, as well as higher sales revenue and
transaction security for the merchants. The buySAFE seal indicates
that an online seller has been financially pre-qualified and
rigorously investigated, and that the seller's sales activity and
online reputation will continue to be monitored.
"We're very pleased to join buySAFE in guaranteeing online
transactions from bonded sellers, and in furthering mitigation of the
risks associated with online shopping," said George Thompson, Senior
Vice President of Bond - Commercial Surety. "With this partnership,
Travelers continues its tradition of delivering progressive insurance
and surety solutions to the marketplace that will also fortify
protection for its customers".
Arriving in time for the holidays, this new pairing - that offers
greater security for e-commerce transactions - can raise the comfort
level of consumers who purchase from buySAFE Merchants. Online
shoppers gain the confidence that all terms and conditions of the sale
will be met.
"With a strong partner such as Travelers, buySAFE continues to
pursue its mission - to make every online transaction reliable,
trusted and virtually risk-free," said Jeff Grass, buySAFE's CEO.
"Online shopping is moving into new territory, accelerated by search
engines and comparison shopping sites. As these new sales streams
develop, we're pleased to add the strength of this leading surety bond
provider as we grow."
About buySAFE
buySAFE, Inc. helps to create a safe and stress-free online
shopping environment. buySAFE qualifies merchants, identifies
reputable online businesses with the buySAFE Seal, and uses surety
bonds to provide broad protection for individual buyers from online
transaction risks. buySAFE has issued more than 9,000,000 surety bonds
on individual online purchases. buySAFE also benefits online merchants
by increasing trust and confidence with their shoppers, thereby
increasing profit opportunities. There are currently more than two
million items bonded with buySAFE that can be found at
www.buysafeshopping.com. buySAFE is headquartered in Arlington,
Virginia. More information can be found at www.buysafe.com.
About Travelers
Travelers understands that life and business are inherently
dynamic and that the best way to serve agents and policyholders is to
deliver insurance that evolves to stay in-synch with life and business
as they change. 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 independent 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.
For more information about this offering, visit us online at
www.travelersbond.com.